Green NNP: Economics of Natural Resource Accounting

Vishrut Kansal

Journal of Studies in Dynamics and Change (JSDC), ISSN: 2348-7038, 2014, vol. 1, issue 5, 214-220

Abstract: Conventional Income accounting frameworks reflect production and consumption processes involving market (either actual or imputed), thereby failing to account for non-market activities. Such a neglect, often occasioned by non-availability of empirical data or difficulty in procuring such data, renders Net National Product as ineffectual for inter-temporal and inter-geographical welfare comparisons. Similarly, if income and product accounts re not adjusted to accomodate changes in natural resources and environmental impact due to production and consumption activities in NNP, they may represent an over-estimated or under-estimated NNP valuation. In this context, this paper argues in favor of greening of NNP and effectual accounting means to realise this idealism.

Keywords: Green G.N.P.; G.D.P.; Income Accounting; Natural Resource Accounting; SEEA; defensive expenditure; travel cost; contingent valuation (search for similar items in EconPapers)
JEL-codes: E01 (search for similar items in EconPapers)
Date: 2014
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