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Augmented Sustainability Measures for Scotland

John Pezzey (), Nick Hanley, Nick Hanley (), Karen Turner () and Dugald Tinch
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Nick Hanley: University of Glasgow, Department of Economics
Dugald Tinch: University of Glasgow, Department of Economics

Authors registered in the RePEc Author Service: Nick Hanley ()

Economics and Environment Network Working Papers from Australian National University, Economics and Environment Network

Abstract: We estimate and compare two empirical measures of the weak sustainability of an economy for the first time: the change in augmented green net national product (GNNP), and the interest on augmented genuine savings (GS). Yearly calculations are given for each measure for Scotland during 1992-99. Augmentation means including, using projections to 2020, production possibilities enabled by exogenous technical progress or changing terms of trade. In passing, we clarify the treatment of environmental expenditures in green accounting. The change in augmented GNNP and interest on augmented GS are both always positive, showing no sustainability problem for Scotland; but the former greatly exceeds the latter, showing an unresolved problem with the theory

Keywords: sustainability; Scotland; genuine savings; green NNP; augmentation (search for similar items in EconPapers)
JEL-codes: O47 Q01 R13 (search for similar items in EconPapers)
Pages: 38 pages
Date: 2003-05
New Economics Papers: this item is included in nep-geo
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Working Paper: Augmented Sustainability Measures for Scotland (2004) Downloads
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