1. The biocapacity adjusted economic growth. Developing a new indicator
- Author
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Nicoletta Patrizi, Federico M. Pulselli, Giampaolo Gabbi, Simone Bastianoni, and Massimo Matthias
- Subjects
Risk ,0106 biological sciences ,Ecological footprint ,Ecology ,Natural resource economics ,Output Gap ,General Decision Sciences ,Ecological dynamics ,Ecological Footprint ,010501 environmental sciences ,010603 evolutionary biology ,01 natural sciences ,Natural resource ,Sustainability ,Output gap ,OECD ,Economics ,Spite ,Production (economics) ,Biocapacity ,QH540-549.5 ,Ecology, Evolution, Behavior and Systematics ,0105 earth and related environmental sciences - Abstract
The environment may constrain economic growth potential. In other words, economic growth cannot be pursued in spite of ecological limits any longer. Here we present an economic growth indicator adjusted by taking into account the current tendency of national economies to overcome the availability of natural resources and ecological dynamics. We combine two indicators: 1) the Output Gap, a measure of production capacity of the economy based on the difference between actual and potential GDP, as a per cent of potential GDP; 2) the difference between the Ecological Footprint and the Biocapacity of a country, systemic indicators representing the extent to which a country operates within or beyond ecological limits. That combination gives rise to the Biocapacity Adjusted Economic Growth indicator which enables a categorization of countries based on assessment of growth patterns in line or not with sustainability principles.
- Published
- 2021
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