Valuation in the Management of Biological Diversity

Abstract

In recent times, the degradation of the environment has emerged as a major worldwide concern. In particular, pollution in the industrialised countries has become a serious threat to the quality of life — hitherto measured mainly in terms of growth in material output. These wealthier countries which have achieved broad economic goals that might be considered reasonably adequate, have begun to reorient their national objectives by placing greater emphasis on improved environmental quality. Meanwhile, the developing nations are increasingly realising that natural resource degradation is a serious impediment to their central goals of economic development and the alleviation of poverty. Thus these poorer countries are seeking sustainable development paths that will permit them to simultaneously address both socioeconomic and environmental concerns.

This is the revised version of a paper presented at the International Workshop on the Economics of Biodiversity, Beijer Institute, Stockholm, 29–31 July 1992. The valuable assistance of Noreen Beg and Annika Persson, as well as comments and contributions of B. Aylward, R. Kramer, J. McNeely, P. Meier, E. Mercer, A. Munasinghe, D. Pearce, N. Sharma, and C. Tisdell are gratefully acknowledged.