Artículo: Australia: a Land of Missed Opportunities?

David Greasley (University of Edinburgh), Nick Hanley (University of St. Andrews), Eoin McLaughlin (University of St. Andrews) y Les Oxley (University of Waikato) publicaron el artículo Australia: a Land of Missed Opportunities?Su abstract dice "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."

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