Title: The value of nature in Thailand: a macroeconomic perspective and implications for social policy

Authors: Dodo J. Thampapillai, Shandre M. Thangavelu, Euston T. Quah

Addresses: Lee Kuan Yew School of Public Policy, National University of Singapore, Singapore. Macquarie University Sydney, NSW 2109, Australia ' Department of Economics, National University of Singapore, Singapore. ' Department of Economics, Nanyang Technological University, Singapore

Abstract: This paper adopts a simple method for the elicitation of the price and quantity of environmental capital (KN), as point estimates, from the Income Approach to National Accounts. The stock of KN considered here is confined to the air-shed of an economy and gets utilised in the formation of aggregate output (Y). The price and quantity estimates of KN are defined on the same scale as those of manufactured capital (KM), that is, price as a composite measure of an interest rate and a depreciation rate, and quantity as an aggregate measure at constant prices. The trends of the estimates reveal that, despite improvements in the rate of utilisation of KN, there is evidence of increasing scarcity of KN.

Keywords: environmental capital; income approach to national accounts; scarcity; point estimates; Thailand; social policy.

DOI: 10.1504/IJEWE.2006.011755

International Journal of Environment, Workplace and Employment, 2006 Vol.2 No.4, pp.359 - 372

Published online: 20 Dec 2006 *

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