Occasional Papers,
National Institute of Economic Research

Abstract: The purpose of this paper is to present calculations of non-marketed values of changes in Swedish natural capital assets. The value of changes in natural capital, or wealth change, is then estimated as net values of current and future production of non-marketed ecosystem services. Values are calculated for ecosystem supply of recreational values and pollutant cleaning from four classes of natural capital assets: forests, agricultural landscape, wetlands, and air quality. The demonstration shows that the net welfare contribution from these natural capital assets during the period 1991-2001 is positive, but that the use of the assets is unsustainable. A comparison of conventional NDP and adjusted NDP shows a significant difference, and also that growth can change in different directions depending on which measurement is used.

Keywords: natural capital; ecosystem services; sustainability; growth

25 pages, May 26, 2004

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