| Автор | LANGE, GLENN-MARIE |
| Автор | WRIGHT, MATTHEW |
| Дата выпуска | 2004 |
| dc.description | The Hartwick–Solow rule for sustainability requires that depletion of natural capital be offset by a compensating increase in other forms of capital capable of generating as much income as the natural capital they replace. Many countries have not been successful in transforming natural capital into other forms of wealth. This paper investigates the process of wealth transformation for Botswana, one of the most successful resource-rich countries. Using an expanded measure of wealth that includes manufactured capital, natural capital and net foreign financial assets, Botswanaʼs per capita wealth has increased over the past 20 years. Government has recovered and reinvested rent. However, examination of the public sector capital budget reveals considerable unproductive investment. While correction for unproductive investments still indicates sustainable development, results suggest that aggregate indicators such as national wealth or genuine savings may be misleading without further attention to the process by which natural capital is transformed into other forms of wealth. |
| Издатель | Cambridge University Press |
| Название | Sustainable development in mineral economies: the example of BotswanaThe views expressed here are those of the authors and do not necessarily reflect the views of the Bank of Botswana. The authors would like to thank Richard Auty, Jay Salkin, and several anonymous reviewers for their helpful comments. |
| DOI | 10.1017/S1355770X04001469 |
| Electronic ISSN | 1469-4395 |
| Print ISSN | 1355-770X |
| Журнал | Environment and Development Economics |
| Том | 9 |
| Первая страница | 485 |
| Последняя страница | 505 |
| Аффилиация | LANGE GLENN-MARIE; The Earth Institute at Colombia University |
| Аффилиация | WRIGHT MATTHEW; Bank of Botswana |
| Выпуск | 4 |
