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Green accounting using imperfect, current prices

Published online by Cambridge University Press:  25 April 2002

Robert D. Cairns
Robert D. Cairns
Affiliation:
Department of Economics, McGill University, 855 Sherbrooke St. W, Montreal, Canada H3A 2T7. Tel: 514 398 3660. Fax: 514 398 4938. Email: rcairns@leacock.lan.mcgill.ca
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Abstract

Especially in developing countries, natural resources and the environment are not optimally managed. Even so, it is possible for green accounts based on current prices to measure the realized contributions of the environment to net product. The prices for use in the green accounts, however, are not necessarily shadow prices as would be recommended by cost–benefit analysis: in practice, green or comprehensive NNP is an approximation of an index of welfare. The fact that a linearization of generalized national income is used implies that disaggregated, partial-equilibrium models of resources are useful.

Type
Theory and Applications
Information
Environment and Development Economics , Volume 7 , Issue 2 , May 2002 , pp. 207 - 214
Copyright
© 2002 Cambridge University Press

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Footnotes

Thanks to Theo Panayotou, Mike Toman, Terry Veeman, Jeff Vincent and three referees for helpful comments and to FCAR and SSHRCC for financial support.