IDEAS home Printed from https://ideas.repec.org/p/pra/mprapa/87715.html
   My bibliography  Save this paper

Environmental Resources, Shocks, and National Well-Being

Author

Listed:
  • Roumasset, James
  • Ravago, Majah-Leah
  • Jandoc, Karl
  • Arellano, Clarissa

Abstract

The contribution of the environmental-resource sector to national well-being is the sum of natural resource depletion and environmental degradation. Inasmuch as existing resource stocks are below efficient levels, better enforcement of existing laws as well as policies that incentivize sustainable use are needed. Similarly, progressive royalty assessment of mineral resources can incentivize exploration without transferring the bulk of resource rents to private interests. In the case of pollution, the key is to face firms with the full costs of their production, e.g. through emission taxes and/or cap and trade systems. Calculating total depletion and degradation (TDD) will facilitate the calculation of green national income (GNI), a more inclusive metric of national well-being. In the same way, simultaneous optimization of disaster management policies in the face of climate change can facilitate a further improvement in national well-being, this time measured as comprehensive national income (CNI).

Suggested Citation

  • Roumasset, James & Ravago, Majah-Leah & Jandoc, Karl & Arellano, Clarissa, 2016. "Environmental Resources, Shocks, and National Well-Being," MPRA Paper 87715, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:87715
    as

    Download full text from publisher

    File URL: https://mpra.ub.uni-muenchen.de/87715/1/MPRA_paper_87715.pdf
    File Function: original version
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Kaur, Inderjit & Singh, Nirvikar (ed.), 2014. "The Oxford Handbook of the Economics of the Pacific Rim," OUP Catalogue, Oxford University Press, number 9780199751990, Decembrie.
    2. Majah-Leah V. Ravago & James Roumasset & Karl Jandoc, 2016. "Risk management and coping strategies: climate change and agriculture in the Philippines," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 53(2), pages 66-104, December.
    3. Weitzman, Martin L. & Lofgren, Karl-Gustaf, 1997. "On the Welfare Significance of Green Accounting as Taught by Parable," Journal of Environmental Economics and Management, Elsevier, vol. 32(2), pages 139-153, February.
    4. David Pearce & Charles Palmer, 2001. "Public and private spending for environmental protection: a cross-country policy analysis," Fiscal Studies, Institute for Fiscal Studies, vol. 22(4), pages 403-456, December.
    5. World Bank, 2009. "World Development Indicators 2009," World Bank Publications - Books, The World Bank Group, number 4367, December.
    6. Peskin, Henry M & Delos Angeles, Marian S, 2001. "Accounting for Environmental Services: Contrasting the SEEA and the ENRAP Approaches," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 47(2), pages 203-219, June.
    7. Endress, Lee H. & Roumasset, James A. & Zhou, Ting, 2005. "Sustainable growth with environmental spillovers," Journal of Economic Behavior & Organization, Elsevier, vol. 58(4), pages 527-547, December.
    8. Antle, John M & Heidebrink, Gregg, 1995. "Environment and Development: Theory and International Evidence," Economic Development and Cultural Change, University of Chicago Press, vol. 43(3), pages 603-625, April.
    9. Majah-Leah Ravago & James Roumasset, 2009. "Economic Policy for Sustainable Growth and Development vs. Greedy Growth and Preservationism," Working Papers 200909, University of Hawaii at Manoa, Department of Economics.
    10. Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-974, December.
    11. Janusz R. Mrozek & Laura O. Taylor, 2002. "What determines the value of life? a meta-analysis," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 21(2), pages 253-270.
    12. United Nations, 2014. "System of Environmental-Economic Accounting 2012," World Bank Publications - Books, The World Bank Group, number 23959, December.
    13. Henry M. Peskin & Marian S. Delos Angeles, 2001. "Accounting for Environmental Services: Contrasting the SEEA and the ENRAP Approaches," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 47(2), pages 203-219, June.
    14. James Roumasset, 1989. "Decentralization and Local Public Goods: Getting the Incentives Right," Philippine Review of Economics, University of the Philippines School of Economics and Philippine Economic Society, vol. 26(1), pages 1-13, June.
    15. John Hartwick, 1977. "Intergenerational Equity and the Investment of Rents from Exhaustible Resources in a Two Sector Model," Working Paper 281, Economics Department, Queen's University.
    16. James A. Roumasset & Kimberly M. Burnett & Arsenio M. Balisacan, 2010. "Sustainability Science for Watershed Landscapes," Books on Agricultural Research and Development, Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA), number 2010:3.
    17. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808, Decembrie.
    18. Ikuho Kochi & Bryan Hubbell & Randall Kramer, 2006. "An Empirical Bayes Approach to Combining and Comparing Estimates of the Value of a Statistical Life for Environmental Policy Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 34(3), pages 385-406, July.
    19. L. Cropper, Maureen & Sahin, Sebnem, 2009. "Valuing mortality and morbidity in the context of disaster risks," Policy Research Working Paper Series 4832, The World Bank.
    20. World Bank, 2009. "The Philippines : Country Environmental Analysis," World Bank Publications - Reports 3178, The World Bank Group.
    21. Geoffrey Heal, 2012. "Reflections--Defining and Measuring Sustainability," Review of Environmental Economics and Policy, Association of Environmental and Resource Economists, vol. 6(1), pages 147-163.
    22. Roumasset, James A. & Smith, Kirk R., 1990. "Exposure trading: An approach to more efficient air pollution control," Journal of Environmental Economics and Management, Elsevier, vol. 18(3), pages 276-291, May.
    23. William Nordhaus, 2015. "Climate Clubs: Overcoming Free-Riding in International Climate Policy," American Economic Review, American Economic Association, vol. 105(4), pages 1339-1370, April.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Majah-Leah Ravago & James Roumasset, 2016. "The Public Economics of Electricity Policy with Philippine Applications," Working Papers 201613, University of Hawaii at Manoa, Department of Economics.
    2. Majah-Leah V. Ravago & James A. Roumasset, 2020. "COVID-19, Coal, and the Energy Transition in the Philippines," Department of Economics, Ateneo de Manila University, Working Paper Series 202009, Department of Economics, Ateneo de Manila University.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Majah-Leah Ravago & James Roumasset, 2009. "Economic Policy for Sustainable Growth and Development vs. Greedy Growth and Preservationism," Working Papers 200909, University of Hawaii at Manoa, Department of Economics.
    2. Giles Atkinson & Simon Dietz & Eric Neumayer & Matthew Agarwala, 2014. "Introduction," Chapters, in: Giles Atkinson & Simon Dietz & Eric Neumayer & Matthew Agarwala (ed.), Handbook of Sustainable Development, chapter 1, pages 1-22, Edward Elgar Publishing.
    3. Luke McGrath & Stephen Hynes & John McHale, 2020. "Linking Sustainable Development Assessment in Ireland and the European Union with Economic Theory," The Economic and Social Review, Economic and Social Studies, vol. 51(2), pages 327-355.
    4. Majah-Leah Ravago & James Roumasset, 2016. "The Public Economics of Electricity Policy with Philippine Applications," Working Papers 201613, University of Hawaii at Manoa, Department of Economics.
    5. Barbier,Edward B., 2007. "Natural Resources and Economic Development," Cambridge Books, Cambridge University Press, number 9780521706513.
    6. Endress, Lee H. & Pongkijvorasin, Sittidaj & Roumasset, James & Wada, Christopher A., 2014. "Intergenerational equity with individual impatience in a model of optimal and sustainable growth," Resource and Energy Economics, Elsevier, vol. 36(2), pages 620-635.
    7. Carl Obst & Lars Hein & Bram Edens, 2016. "National Accounting and the Valuation of Ecosystem Assets and Their Services," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 64(1), pages 1-23, May.
    8. Manel Kamoun & Ines Abdelkafi & Abdelfetah Ghorbel, 2019. "The Impact of Renewable Energy on Sustainable Growth: Evidence from a Panel of OECD Countries," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(1), pages 221-237, March.
    9. Nick Hanley & Louis Dupuy & Eoin McLaughlin, 2015. "Genuine Savings And Sustainability," Journal of Economic Surveys, Wiley Blackwell, vol. 29(4), pages 779-806, September.
    10. Tricia Glazebrook & Emmanuela Opoku, 2020. "Gender and Sustainability: Learning from Women’s Farming in Africa," Sustainability, MDPI, vol. 12(24), pages 1-20, December.
    11. Daniele Schilirò, 2019. "Sustainability, Innovation, and Efficiency: A Key Relationship," Palgrave Studies in Impact Finance, in: Magdalena Ziolo & Bruno S. Sergi (ed.), Financing Sustainable Development, chapter 0, pages 83-102, Palgrave Macmillan.
    12. McGrath, Luke & Hynes, Stephen & McHale, John, 2019. "Augmenting the World Bank's estimates: Ireland's genuine savings through boom and bust," Ecological Economics, Elsevier, vol. 165(C), pages 1-1.
    13. Padmanabha Hota & Bhagirath Behera, 2016. "Opencast coal mining and sustainable local livelihoods in Odisha, India," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 29(1), pages 1-13, April.
    14. Eoin McLaughlin & Cristián Ducoing & Les Oxley, 2024. "Tracing Sustainability in the Long Run: Genuine Savings Estimates 1850–2018," NBER Chapters, in: Measuring and Accounting for Environmental Public Goods: A National Accounts Perspective, National Bureau of Economic Research, Inc.
    15. Roman Inderst & Eftichios Sartzetakis & Anastasios Xepapadeas, 2021. "Technical Report on Sustainability and Competition," DEOS Working Papers 2103, Athens University of Economics and Business.
    16. Ourvashi Bissoon, 2017. "Is Sub-Saharan Africa on a Genuinely Sustainable Development Path? Evidence Using Panel Data," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 11(4), pages 449-464, November.
    17. Kimberly Burnett & Lee Endress & Majah-Leah Ravago & James Roumasset & Christopher Wada, 2011. "Islands of Sustainability in Time and Space," Working Papers 2011-13, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
    18. Basu, Amrita & Nayak, Narayan Chandra, 2011. "Underlying causes of forest cover change in Odisha, India," Forest Policy and Economics, Elsevier, vol. 13(7), pages 563-569, September.
    19. Klauer, Bernd & Bartkowski, Bartosz & Manstetten, Reiner & Petersen, Thomas, 2017. "Sustainability as a Fair Bequest: An Evaluation Challenge," Ecological Economics, Elsevier, vol. 141(C), pages 136-143.

    More about this item

    Keywords

    Well-being; risk; natural disaster; scenario-building; Philippines;
    All these keywords.

    JEL classification:

    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:87715. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.