{"title":"Extending the Genuine Savings estimates with natural capital and poverty at the regional and national level in Italy","authors":"","doi":"10.1016/j.ecolecon.2024.108433","DOIUrl":null,"url":null,"abstract":"<div><div>Efforts to improve the Genuine Savings, a widely accepted index to assess the weak sustainability of an economy's development, have led to the creation of a broad body of literature that aims to produce more robust macroeconomic indicators for policy decision making. However, the various approaches to natural capital welfare accounting results in conflicting indicators of change. It is also the case that the inclusion of natural and social capital components is still scant. This paper addresses this gap by extending the traditional Genuine Savings methodology by including some natural capital components (e.g. flood protection, water purification) and the poverty dimension through a deontological approach. Although not offering a silver bullet solution, our approach proposes a pluralist and pragmatic improvement from ‘weak’ towards ‘stronger’ sustainability indicators. Results highlight the availability of data and information produced by different initiatives including the United Nations System of Environmental-Economic Accounting guidelines. The empirical application provides Genuine Savings estimates for Italy from 2006 to 2012 and from 2012 to 2015, shedding the light on the importance of natural capital and social considerations at national and regional level.</div></div>","PeriodicalId":51021,"journal":{"name":"Ecological Economics","volume":null,"pages":null},"PeriodicalIF":6.6000,"publicationDate":"2024-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Ecological Economics","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0921800924003306","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECOLOGY","Score":null,"Total":0}
引用次数: 0
Abstract
Efforts to improve the Genuine Savings, a widely accepted index to assess the weak sustainability of an economy's development, have led to the creation of a broad body of literature that aims to produce more robust macroeconomic indicators for policy decision making. However, the various approaches to natural capital welfare accounting results in conflicting indicators of change. It is also the case that the inclusion of natural and social capital components is still scant. This paper addresses this gap by extending the traditional Genuine Savings methodology by including some natural capital components (e.g. flood protection, water purification) and the poverty dimension through a deontological approach. Although not offering a silver bullet solution, our approach proposes a pluralist and pragmatic improvement from ‘weak’ towards ‘stronger’ sustainability indicators. Results highlight the availability of data and information produced by different initiatives including the United Nations System of Environmental-Economic Accounting guidelines. The empirical application provides Genuine Savings estimates for Italy from 2006 to 2012 and from 2012 to 2015, shedding the light on the importance of natural capital and social considerations at national and regional level.
期刊介绍:
Ecological Economics is concerned with extending and integrating the understanding of the interfaces and interplay between "nature''s household" (ecosystems) and "humanity''s household" (the economy). Ecological economics is an interdisciplinary field defined by a set of concrete problems or challenges related to governing economic activity in a way that promotes human well-being, sustainability, and justice. The journal thus emphasizes critical work that draws on and integrates elements of ecological science, economics, and the analysis of values, behaviors, cultural practices, institutional structures, and societal dynamics. The journal is transdisciplinary in spirit and methodologically open, drawing on the insights offered by a variety of intellectual traditions, and appealing to a diverse readership.
Specific research areas covered include: valuation of natural resources, sustainable agriculture and development, ecologically integrated technology, integrated ecologic-economic modelling at scales from local to regional to global, implications of thermodynamics for economics and ecology, renewable resource management and conservation, critical assessments of the basic assumptions underlying current economic and ecological paradigms and the implications of alternative assumptions, economic and ecological consequences of genetically engineered organisms, and gene pool inventory and management, alternative principles for valuing natural wealth, integrating natural resources and environmental services into national income and wealth accounts, methods of implementing efficient environmental policies, case studies of economic-ecologic conflict or harmony, etc. New issues in this area are rapidly emerging and will find a ready forum in Ecological Economics.