Australia : a land of missed opportunities?
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Comprehensive Investment (CI) may provide an indicator of future changes in a country’s per capita consumption. We explore the utility of the CI indicator for Australia by constructing CI data since 1861 and by estimating their relationship with changes in future consumption over periods of 50 years ahead. The CI measures include changes in natural, produced and human capital, and make allowance for exogenous technological progress. The results are used to consider how Australia’s natural capital exploitation influenced the consumption of future generations. Further, we gauge if low CI relative to other leading OECD countries resulted in lower consumption levels in Australia over time than feasible, had it saved more.
Greasley , D , McLaughlin , E , Hanley , N & Oxley , L 2017 , ' Australia : a land of missed opportunities? ' Environment and Development Economics , vol 22 , no. 6 , pp. 674-698 . DOI: 10.1017/S1355770X17000110
Environment and Development Economics
© Cambridge University Press 2017. This work has been made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at https://doi.org/10.1017/S1355770X17000110
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