Environmental Resources, Shocks, and National Well-Being

James Roumasset, Majah-Leah Ravago, Karl Jandoc and Clarissa Arellano

MPRA Paper from University Library of Munich, Germany

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: Q5 Q51 Q58 (search for similar items in EconPapers)
Date: 2016-04
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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