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Published in:
2014 | OriginalPaper | Chapter
7. Sustainable Development and Institutions
Author : Vikram Dayal
Published in: The Environment in Economics and Development
Publisher: Springer India
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Abstract
The World Bank now publishes estimates of adjusted savings for the world’s countries to keep track of sustainable development; the environment is seen as a gigantic capital asset. I explore these estimates for different countries. Dasgupta and Maler, who have worked on theoretical models of environmental accounting, initially used optimal control models but have shifted to modeling imperfect economies, in which institutions can affect resource allocation. Sneddon et al. suggest the importance of deliberative democracy for sustainable development, and Vatn describes the use of deliberative processes, which can build on structured information. Duflo and Pande statistically estimate that on average, dams in India increased poverty.