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Sustainable Development: Economics and Policy applies an interdisciplinary perspective to the latest developments in economic analysis and to policies affecting the global environment and economic development. Extensive pedagogy is included to facilitate classroom use.The book advances economic theory to meet the challenges of dealing with the complexities of institutions and decision-making practices. While taking into account the latest scientific assessments in the areas of environmental science, the book also integrates the author's own research on sustainable development under changing conditions. The volume integrates ecological and institutional economics to suggest pragmatic policy frameworks and specific directions for further development.Themes include: Debt-trade-environment linkages and environment-poverty nexus. Environmental accounting. Roles of private sector and international institutions. Science and economics of global warming and global commons. Role and limitations of Net National Product as an indicator of sustainability
1. A Brief History: Before the Earth Summit. The Earth Summit and After. Effectiveness of Policies. Moving Ahead. Chronology. References. 2. Resources and Environment: Source and Sink Problems. Changes in Natural Resources. Changes in Environment. Climate Change. Desertification. Biodiversity. Conclusions. References. 3. Sustainable Development: Interpretations: Biogeophysical and Ecological Aspects. Economic Approaches. Economic Growth and Sustainability. Irreversibility and Nonlinearity. The Precautionary Principle. Conclusions. References. 4. Managing Global Commons: Global Commons. Global Warming Potential. Economics of the Greenhouse Effect. Greenhouse Gas Emissions Policies. Economics of Green Tax. Conclusions. Appendix: Economic Models for Green Taxes. References. 5. Poverty and Environment: Poverty, Prosperity and the Environment. Trends in Poverty. Poverty Reduction and Sustainability. Structural Adjustments and Public Finance. Policy Alternatives and Political Economy. Conclusions. References. 6. Valuing Resources and Future: Valuing Environmental Resources. Market and Non-Market Valuations. Net National Product and Sustainability. Technical Progress and Sustainability. Changes in Preferences and Discounting. Choosing Discount Factors. Conclusions. Appendix: Models for Net National Product and Sustainability. References. 7. Green Accounting: Assessing Environmental Costs. Green National Accounts. Integrated Economic and Environmental Accounting. Indicators for Sustainability. Conclusions. References. 8. Debt, Trade and Environment: Internal Debt and Sustainability. External Debt and Trade. Debt and Environment. Trade and Environment. Conclusions. References. 9. Governance and Private Sector: Markets and the Environment. Regulations and Compliance Incentives. Private Investment and Sustainability. Mechanisms for Private Financing. Conclusions. References. 10. International Institutions: Global Policy Institutions. External Financing and Institutions. Local Knowledge, Resources and Institutions. International Institutional Mechanisms. Conclusions. References. 11. Policy Framework: Objectives. Methods of Operation. National and Local Policies. International Policies. Directions for the Future. References. Glossary. Statistical Information. Additional Bibliography.