G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
How Substitutable is Natural Capital?
Anil Markandya; Suzette Pedroso
发表日期2005
出处Climate Change and Sustainable Development
出版年2005
语种英语
摘要One of the recurring themes in the sustainability literature has been the legitimacy of using an economic framework to account for natural resources. This paper examines the potential for substituting between different inputs in the generation of income, where the inputs include natural resources such as land and energy resources. A nested CES production function is used to allow flexibility in the estimated elasticities of substitution. Also, with this specification, natural resources and other inputs are combined in different levels of the function, thus allowing for different levels of substitutability. Institutional and economic indicators are also incorporated in the production function estimated. Results show that the elasticities derived from functions involving land resources were generally around one or greater. Furthermore, changes in trade openness and private sector investment have a statistically significant and direct relationship with income generation. No statistically significant relationship between income and any of the institutional indicators was found.
特色分类O47,Q24,Q32
关键词Wealth accounting,Natural resources,Nested CES production function
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/how-substitutable-is-natural-capital/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/117200
推荐引用方式
GB/T 7714
Anil Markandya,Suzette Pedroso. How Substitutable is Natural Capital?. 2005.
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