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An environmental accounting approach to valuing the services of natural forests and woodlands in Swaziland

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  • Ngwenya, P.
  • Hassan, Rashid M.

Abstract

Economists and statisticians constructing the national income accounts usually overlook the many benefits derived by communities from natural forests and woodlands. This study attempted to impute a value for the ecosystem services of these resources in Swaziland employing an environmental accounting framework. The current measure of national income was found to underestimate GDP by 2% and under value national savings by 10% by not accounting for the flow and asset values of natural forests and woodlands. The study also revealed a very high dependence of the rural communities in Swaziland on natural forests and woodlands for their livelihoods as they derive more than 50% of the value of total household consumption expenditure from these resources. These results clearly indicate the significant contribution to and crucial role these resources play in the lives and wellbeing of the Swazi people and hence the importance of prudent management and utilisation of this resource sector.

Suggested Citation

  • Ngwenya, P. & Hassan, Rashid M., 2005. "An environmental accounting approach to valuing the services of natural forests and woodlands in Swaziland," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 44(2), pages 280-280, June.
    • Handle: RePEc:ags:agreko:31695
    DOI: 10.22004/ag.econ.31695
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    References listed on IDEAS

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    1. Hassan, Rashid M. & Mbuli, P. & Dlamini, C., 2002. "Natural Resource Accounts For The State And Economic Contribution Of Forests And Woodland Resources In Swaziland," Discussion Papers 18020, University of Pretoria, Center for Environmental Economics and Policy in Africa.
    2. Motta, Ronaldo Seroa Da & Amaral, Claudio A. Ferraz Do, 2000. "Estimating timber depreciation in the Brazilian Amazon," Environment and Development Economics, Cambridge University Press, vol. 5(1), pages 129-142, February.
    3. Nyborg, Karine, 2000. "Project analysis as input to public debate: Environmental valuation versus physical unit indicators," Ecological Economics, Elsevier, vol. 34(3), pages 393-408, September.
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    1. Shackleton, C.M. & Timmermans, H.G. & Nongwe, N. & Hamer, N. & Palmer, N. & Palmer, R., 2007. "Direct-use Values of Non-Timber Forest Products from Two Areas on the Transkei Wild Coast," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 46(1), pages 1-22, March.
    2. Pavitra Dhamija, 2020. "Economic Development and South Africa: 25 Years Analysis (1994 to 2019)," South African Journal of Economics, Economic Society of South Africa, vol. 88(3), pages 298-322, September.
    3. Wisdom Dlamini, 2009. "Lightning fatalities in Swaziland: 2000–2007," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 50(1), pages 179-191, July.

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    Environmental Economics and Policy;

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