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dc.titleIntegrating the Value of Natural Capital in Evidence-Based Policy Making
dc.contributor.authorBanerjee, Onil
dc.contributor.authorVargas, Renato
dc.contributor.authorCicowiez, Martin
dc.contributor.orgunitEnvironment, Rural Development and Risk Management Division
dc.date.available2020-12-02T00:00:00
dc.date.issue2020-12-02T00:00:00
dc.description.abstractThis paper describes how Natural Capital Accounting (NCA) can be integrated into economy wide analytical frameworks to enhance evidence based decision making. Examples from applications of the Integrated Environmental Economic Modelling (IEEM) Platform show how explicitly accounting for the contributions of the environment to the economy in economic forecasting can lead to substantially different policy recommendations, overcoming some of the scope limitations of traditional economic performance analysis. Furthermore, the paper describes how NCA can be integrated into more traditional economic performance measurements, such as the System of National Accounts and their indicators such as adjusted Gross Domestic Product and Genuine Savings. Integration of natural capital into economy-wide analytical frameworks leads to better policy uptake of research findings and it empowers policymakers to avoid short-sighted decisions, which, although they can generate short-term economic gain, can have adverse consequences for economic, social, and environmental sustainability in the long run.
dc.format.extent55
dc.identifier.doihttp://dx.doi.org/10.18235/0002900
dc.identifier.urlhttps://publications.iadb.org/publications/english/document/Integrating-the-Value-of-Natural-Capital-in-Evidence-Based-Policy-Making.pdf
dc.language.isoen
dc.mediumAdobe PDF
dc.publisherInter-American Development Bank
dc.subjectNatural Capital
dc.subjectEnvironmental Policy
dc.subjectBiodiversity
dc.subjectEcosystem Service
dc.subjectEnvironmental Economy
dc.subjectReforestation
dc.subject.jelcodeQ15 - Land Ownership and Tenure • Land Reform • Land Use • Irrigation • Agriculture and Environment
dc.subject.jelcodeQ18 - Agricultural Policy • Food Policy
dc.subject.jelcodeC68 - Computable General Equilibrium Models
dc.subject.jelcodeE23 - Production
dc.subject.jelcodeE21 - Consumption • Saving • Wealth
dc.subject.keywordsNatural capital;Biodiversity;wealth inequality;ecosystem service;grossdomestic product;reforestation;social network analysis
dc.typeWorking Papers
idb.identifier.pubnumberIDB-WP-01125
idb.operationRG-E1603
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