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Filipino 2040 Environmental Resources, Shocks, and National Well-Being

James Roumasset (), Majah-Leah Ravago (), K. Jandoc and C. Arellano
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K. Jandoc: University of Hawaii; Energy Policy and Development Program
C. Arellano: University of the Philippines; World Bank, Philippines

No 2016-3, Working Papers from University of Hawaii Economic Research Organization, University of Hawaii at Manoa

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).

Keywords: Well-being; risk; natural disaster; scenario-building; Philippines (search for similar items in EconPapers)
JEL-codes: N55 Q01 Q54 Q56 Q58 (search for similar items in EconPapers)
Pages: 48 pages
Date: 2016-04
New Economics Papers: this item is included in nep-agr, nep-ene, nep-env and nep-sea
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