Concerns about natural resource scarcity, together with the increased awareness of environmental problems, has led to widespread interest in green accounting, which attempts to extend the standard national accounts to include the yields from natural and environmental resources. For this volume,...

"Countries regularly track gross domestic product (GDP) as an indicator of their economic progress, but not wealth the assets such as infrastructure, forests, minerals, and human capital that produce GDP. In contrast, corporations routinely report on both their income and assets to assess their...

"Are natural resources a blessing or a curse? Bravo-Ortega and De Gregorio present a model in which natural resources have a positive effect on the level of income and a negative effect on its growth rate. The positive and permanent effect on income implies a welfare gain. There is a growth...