Internalization of external costs and calculation of social capital

Jovanović, Larisa and Munitlak Ivanović, Olja and Golušin, Mirjana (2011) Internalization of external costs and calculation of social capital. In: Proceedings. Vol. 3 / 2nd International Conference Law, Economy and management in Modern Ambience - LEMiMA 2011. Faculty for education of the executives, Novi Sad, pp. 138-145. ISBN 978-86-87333-26-0

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Abstract

External costs for remediation of environmental pollution and depletion of nonrenewable
resources usually are not taken into account in the social accounts. All this suggests that the problem of
evaluation of environmental external costs is not solved completely. It is certain that System of Integrated
Environmental and Economic Accounting (SEEA) provides much more information from the Provisional
System of National Accounts (SNA), which is designed as a basis for the development of international
compatibility of national accounts. Integrated environmental and economic accounting does not violate
the essence of the conventional macroeconomic aggregates. The above deficiencies in the selection of
species, numbers and physical quantities that characterize the environmental indicators, and talk about
this nonoptimal evaluation of economic wealth of society. For some natural resources are measurable
indicators (price and quantity of minerals obtained or catching fish, the prices of fossil exploited
resources: oil, coal and natural gas, the percentage of deforestation and the like). However, resources
such as water and air can be included in the integrated environmental and economic accounting only
through cost recovery or prevention of pollution. The aim of this paper is to address the inadequacy of
measuring social capital through the traditional calculation of gross domestic product. It is evident that
there is a need of "green" accounting at the macro level.

Item Type:	Book Section
Additional Information:	COBISS.ID=40347663
Uncontrolled Keywords:	external costs, internalization, social capital, environment, indicators of sustainability, natural resources, macroeconomic accounts, green accounting
Research Department:	?? H1 ??
Depositing User:	Jelena Banovic
Date Deposited:	23 Jan 2017 08:30
Last Modified:	29 Oct 2018 14:26
URI:	http://35.240.28.64/id/eprint/976
Author Links:	[error in script] No links available.

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