Accounting for Forest Resources in Gross Domestic Product and Beyond
Investigators:
Karen Lee Abt,
Southern Research Station
Description:
Natural resource accounting involves measuring the productive value of the use of natural resource assets, including the depreciation, degradation and capital formation of such assets. This accounting assumes that natural resource assets, like forests, are a capital stock, similar to man-made stocks of buildings and equipment. Typically, this type of expanded accounting results in an adjustment to the gross national product. In most cases the value of capital consumption is subtracted from GNP to give a net national product. The idea is to approach a measure of Hicksian sustainable income--which is an assurance that we will leave the next generation with as much potential to be well off as is the current generation. Natural resource accounting is an important step in developing a measure of economic sustainability. Current GNP does not take into account our use of natural resource assets in production. This study will work to develop ways to accurately and consistently measure the value of timber and forest resources to the national and regional economies. In addition, this study will examine methods to incorporate nonmarket and existence values for forests into measures of economic well being that encompass more than production and consumption of goods and services.
Problem Area(s):
Landowner objectives
Status:
Ongoing
Products:
Lee, Karen J. 1996. Natural resource accounting: counting the forest and the trees. In: Caulfied, Jon P.; Bullard, Steven H., eds. A world of forestry: Proceedings of the 25th annual Southern Forest Economics Workshop; 1995 April 17-19; New Orleans, LA. Mississippi State, MS: Mississippi State University, Department of Forestry: 325-332.
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modified:
13-MAR-2000
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USDA FS SRS
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