Main principles of construction of matrixes system of integrated environmental and economic accounts icon

Main principles of construction of matrixes system of integrated environmental and economic accounts




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MAIN PRINCIPLES OF CONSTRUCTION OF MATRIXES SYSTEM OF INTEGRATED ENVIRONMENTAL AND ECONOMIC ACCOUNTS




E.V. Kirsanova


Sumy State University


The guidelines in the System of National Accounts (SNA) originated fifty years ago and have been revised several times since, most recently in 1993. One aspect of the latest revision was the greater attention paid to capital stocks and flows and in particular to the place of natural resources within the set of economic assets.

However, the existing system of the national account and the parameters designed on the basis of such account (for example, gross domestic product (GDP) or the national income) do not give an opportunity to estimate result of interaction of economy and an environment. As known, GDP is monetary value of all volume of final manufacture of the goods and services in national economy for one year. But GDP encounters barrier, in particular, at an estimation of ecological parameters. For example, the more the nation pollutes water, the more it needs to invest in systems on clearing water, the better it for GDP. That is, concerning an environment the aggregated parameters of system of national accounts have three basic lacks: they do not account an exhaustion of natural resources, insufficiently full take into account costs of protection of an environment, and also do not take into account degradation of quality of an environment and a consequence for health and well-being of people.

Thus, there is a necessity of introduction of the System of integrated Environmental and Economic Accounts (SEEA). SEEA – is an external satellite account for SNA. An external satellite account extends the scope of the system by including stocks, flows and transactions which are not covered by the existing SNA.

An identity which is central to the SEEA (and in fact to the SNA also) is that when flows of products are measured ex post, total supply and total demand (or use) must exactly balance. New goods and services are supplied either by production in the current period from resident producers or come from producers in the rest of the world as imports. Thus:

Total supply = domestic production + imports

These goods and services are either:

  • used by industries in the course of making other goods and services (intermediate consumption);

  • bought by households to satisfy their wants (household final consumption);

  • bought by government to satisfy the needs of individual households or of the community at large collectively (government final consumption);

  • bought by industries for use in making other goods and services in future periods (capital formation);

  • they leave the economy to be used in another (exports).

Total use (demand) = intermediate consumption + household final consumption +

+ government final consumption + capital formation + exports


Table 1. – A simple supply and use table for all

physical flows (million tones)




Products

Industries

Consumption

Capital

ROW

Residuals

Material balance

Products




Intermediate consumption

442

Consumption


39

Capital formation

119

Exports


101







Industries

Production

551




From industry

280




Consump-tion




From households

48

17

Capital




From capital formation

73

72

ROW

Imports


150

Residuals generated by non-residents

14

-51

Natural assets




To industry


382

To households

26




To ROW


3




-411

Residuals




To industry


7




Waste to landfill sites

26

To ROW


9




373


In fact some demand is met not from current production but by using up items which exist in inventories. Traditionally, changes in inventories appear in the total demand equation, appearing as a positive entry when items go into stocks and as a negative entry when they are withdrawn. We thus separate capital formation into two parts, fixed capital formation which relates to the acquisition of capital goods to be used repeatedly in future production (machinery and buildings, for example) and changes in inventories. Thus the composite equation reads:

Domestic production + imports = Intermediate consumption + household final consumption +

+ government final consumption + fixed capital formation + changes in inventories + exports.

This identity must hold for any product or group of products as long as they are measured in units which are consistent for every component. Thus although the identity above is most familiar to national accountants when expressed in monetary terms, it must also hold when expressed in a common physical unit. The simple supply and use table for all physical flows including rows and columns for natural resources, ecosystem inputs and residuals is shown in Table 1.

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