Changes in social welfare and sustainability: Theoretical issues and empirical evidence

Vouvaki, Dimitra; Xepapadeas, Anastasios

doi:10.1016/j.ecolecon.2007.12.029

Cited by 10 publications

(6 citation statements)

References 17 publications

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“…Consider a whole economic trajectory ðXðÁÞ,uðÁÞÞ, starting from Xðt 0 Þ ¼ X 0 and defined by arbitrary open-loop controls or by a given feedback rule as in Arrow et al (2003) and Vouvaki and Xepapadeas (2008). Assume that this trajectory deviates from the maximin path in the sense that ( T such that LðXðTÞ,uðTÞÞ oVðX 0 Þ:…”

Section: Sustainability Of a Pathmentioning

confidence: 99%

Maximin, viability and sustainability

Doyen

Martinet

2012

Journal of Economic Dynamics and Control

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a b s t r a c tThe maximin criterion defines the highest utility level that can be sustained in an intergenerational equity perspective. The viability approach makes it possible to characterize all the economic trajectories sustaining a given, not necessarily maximal, utility level. In this paper, we exhibit the strong links between maximin and viability: we show that the value function of the maximin problem can be obtained in the viability framework, and that the maximin path is a particular viable path. This result allows us to extend the recommendations of the maximin approach beyond optimality, to characterize the sustainability of economic trajectories which differ from the maximin path. Attention is especially paid to non-negative net investment at maximin accounting prices, which is shown to be necessary to maintain the productive capacity of the economy, whether the development path is optimal or not. Our results provide a new theoretical ground to account for sustainability in imperfect economies, based on maximin prices.

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Section: Sustainability Of a Pathmentioning

confidence: 99%

Maximin, viability and sustainability

Doyen

Martinet

2012

Journal of Economic Dynamics and Control

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“…Genuine savings rates that were persistently negative would be evidence that the development path of the country concerned was unsustainable (Pearce et al , 1996). The issue became a major theme of the field with a number of contributions on both green accounts and inclusive wealth (Hamilton and Clemens, 1999; Dasgupta and Mäler, 2000; Haripriya, 2000; Ferreira and Vincent, 2005; Vouvaki and Xepapadeas, 2008; Dasgupta, 2009).…”

Section: Valuing Environmental Externalities and Environmental Assetsmentioning

confidence: 99%

Environment and development economics 20 years on

Perrings¹

2014

Envir. Dev. Econ.

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This paper reviews the evolution of the field of environment and development over the last two decades. I argue that a central concern of the field has been the relation between natural resource use, income and growth, under the institutional and market conditions that prevail in developing countries. Particular attention is paid to the demographic and other drivers of change in the asset base, the linkages between poverty, property rights and the allocation of natural resources, the valuation of environmental assets and investment of resource rents, and the development of policies for managing environmental externalities and environmental public goods. I consider how the balance between topics and the treatment of individual topics has changed over time, and indicate how the field might be expected to move in the future.

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“…Geography plays a vital role in the study of socioeconomic development of human beings (Bond, 1999;Harris and Arku, 2007;Coen et al, 2008;Redding and Venables, 2004). Welfare analysis in terms of states involves economic, social, cultural and political considerations, whatever the spatial level and aspect of enquiry (Tranby, 2006;Vouvaki and Xepadeas, 2008). It also involves the physical environment, as far as this is part of the resource constraint.…”

Section: Introductionmentioning

confidence: 99%

Social and economic inequality in Sindh - A factorial analysis approach

Nawaz-ul-Huda¹

2013

Int. J. Sociol. Anthropol.

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The significance of social and economic inequality becomes more prominent due to the lack of regional planning, a phenomenon present in third world countries, where good governance is a rare administrative reality. Coupled with this is the lacuna of administrative coordination, which exacerbates the inequality scenario. The paper highlights the significant factors responsible for social and economic inequality in Sindh, a province of Pakistan. The lopsided nature of urban development, coupled with rural backwardness, acts as a double-edged knife leading to exaggeration of socioeconomic inequalities caused mainly by population explosion natural in rural areas and migratory in urban areas. This leads to staggering economic conditions, with falling income levels, perpetrating vicious social and cultural impacts. Reduction of inequalities demands implementation of planned, targeted development strategies in line with the policies of regional planning.

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Changes in social welfare and sustainability: Theoretical issues and empirical evidence

Cited by 10 publications

References 17 publications

Maximin, viability and sustainability

Maximin, viability and sustainability

Environment and development economics 20 years on

Social and economic inequality in Sindh - A factorial analysis approach

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