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Accounting for Vietnam’s Wealth: The Role of Natural Resources

Author

Listed:
  • Tarp, Finn
  • Nguyen, Manh Hai
  • Vu Xuan, Nguyet Hong
  • Ho Cong, Hoa
  • Patricia, Silva
  • Jørgen Birk, Mortensen

Abstract

This study estimates the capital or stock value of Vietnam’s natural resources. Natural resources are special economic goods because they are not produced. As a consequence, natural resources yield economic profits—rents—if properly managed. These rents can be an important source of development finance for poor countries (World Bank, 2006). The value of natural resources is estimated based on the net present value of income flows that can be generated from these resources (resource rents). Thus the capital value of natural resources is the based on the value an investor would pay for the resource based on its income flow potential. Together with measures of the value from Vietnam’s other important resources, human and produced capital, one could then assess whether Vietnam is on a sustainable development path by monitoring the value of its wealth overtime.

Suggested Citation

  • Tarp, Finn & Nguyen, Manh Hai & Vu Xuan, Nguyet Hong & Ho Cong, Hoa & Patricia, Silva & Jørgen Birk, Mortensen, 2007. "Accounting for Vietnam’s Wealth: The Role of Natural Resources," MPRA Paper 29391, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:29391
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    References listed on IDEAS

    as
    1. World Bank, 2007. "Global Economic Prospects 2007 : Managing the Next Wave of Globalization," World Bank Publications - Books, The World Bank Group, number 7157, April.
    2. Kjell A. Brekke, 1997. "Economic Growth and the Environment," Books, Edward Elgar Publishing, number 807.
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    Keywords

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    JEL classification:

    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts

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