How substitutable is natural capital ?:
"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 resour...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
[2006]
|
| Schriftenreihe: | Policy research working paper
3803 |
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | "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 constant elasticity of substitution (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, implying a fairly high degree of substitutability. 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. "--World Bank web site |
| Beschreibung: | Includes bibliographical references Title from PDF file as viewed on 1/10/2006 |
| Beschreibung: | 1 Online-Ressource |
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| 520 | 3 | |a "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 constant elasticity of substitution (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, implying a fairly high degree of substitutability. 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. "--World Bank web site | |
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Datensatz im Suchindex
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| spelling | Markandya, Anil 1945- Verfasser aut How substitutable is natural capital ? Anil Markandya, Suzette Pedroso-Galinato [Washington, D.C] World Bank [2006] 1 Online-Ressource txt rdacontent c rdamedia cr rdacarrier Policy research working paper 3803 Includes bibliographical references Title from PDF file as viewed on 1/10/2006 "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 constant elasticity of substitution (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, implying a fairly high degree of substitutability. 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. "--World Bank web site Online-Ausg Also available in print Natural resources Substitute products Substitution (Economics) Pedroso-Galinato, Suzette Sonstige oth World Bank Sonstige oth Markandya, Anil How substitutable is natural capital ? http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3803 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Markandya, Anil 1945- How substitutable is natural capital ? Natural resources Substitute products Substitution (Economics) |
| title | How substitutable is natural capital ? |
| title_auth | How substitutable is natural capital ? |
| title_exact_search | How substitutable is natural capital ? |
| title_exact_search_txtP | How substitutable is natural capital ? |
| title_full | How substitutable is natural capital ? Anil Markandya, Suzette Pedroso-Galinato |
| title_fullStr | How substitutable is natural capital ? Anil Markandya, Suzette Pedroso-Galinato |
| title_full_unstemmed | How substitutable is natural capital ? Anil Markandya, Suzette Pedroso-Galinato |
| title_short | How substitutable is natural capital ? |
| title_sort | how substitutable is natural capital |
| topic | Natural resources Substitute products Substitution (Economics) |
| topic_facet | Natural resources Substitute products Substitution (Economics) |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3803 |
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