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The role of natural capital in supporting national income and social welfare

Ambrey, Christopher L; Fleming, Christopher Mark; Manning, Matthew

Description

Using life satisfaction as a proxy for social welfare, this study contributes to the extant literature by empirically demonstrating that natural capital contributes to social welfare, functioning in part through increasing national income and in part through its direct effect on life satisfaction; the direct effect is approximately 40% greater than the indirect effect. This suggests that the true welfare benefits of natural capital may not be adequately reflected in conventional economic data...[Show more]

CollectionsANU Research Publications
Date published: 2015
Type: Journal article
URI: http://hdl.handle.net/1885/98667
Source: Applied Economics Letters
DOI: 10.1080/13504851.2015.1102839

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