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From Natural Resources to Natural Assets

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  • James Boyce

Abstract

This article examines the scope for strategies to build natural assets in the hands of low-income individuals and communities. Natural assets include sources of raw materials such as forests and fisheries, and the airsheds, lands, and water bodies that provide "environmental sinks" for the disposal of wastes. These resources become assets when people have rights to access their benefits. Four strategies for natural asset-building are identified: investment to increase the total stock of natural assets; redistribution to transfer natural assets from others; internalization to increase the ability of the poor to capture benefits generated by their stewardship of natural assets; and appropriation to establish rights for the poor to open-access resources. Building on the democratic principle that all individuals have equal rights to clean air, clean water, and other common heritage resources, these strategies simultaneously can advance the goals of poverty reduction, environmental protection, and environmental justice.

Suggested Citation

  • James Boyce, 2001. "From Natural Resources to Natural Assets," Published Studies ps13, Political Economy Research Institute, University of Massachusetts at Amherst.
    • Handle: RePEc:uma:perips:ps13
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    References listed on IDEAS

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    Cited by:

    1. John Kurien, 2003. "The blessing of the commons: Small-scale fisheries, community property rights and coastal natural assets," Centre for Development Studies, Trivendrum Working Papers 349, Centre for Development Studies, Trivendrum, India.
    2. John Kurien, 2010. "The Blessing of the Commons: Small-scale Fisheries, Community Property Rights and Coastal Natural Assets," Working Papers id:2988, eSocialSciences.
    3. John Kurien, 2004. "The Blessing of the Commons: Small Scale Fisheries, Community Property Rights, and Coastal Natural Assets," Working Papers wp72, Political Economy Research Institute, University of Massachusetts at Amherst.
    4. Shailly Kedia & Rita Pandey & Ria Sinha, 2020. "Shaping the Post-COVID-19 Development Paradigm in India: Some Imperatives for Greening the Economic Recovery," Millennial Asia, , vol. 11(3), pages 268-298, December.
    5. Kojo Sebastian Amanor, 2003. "Natural and Cultural Assets and Participatory Forest Management in West Africa," Working Papers wp75, Political Economy Research Institute, University of Massachusetts at Amherst.
    6. Tuan Nguyen‐Anh & Shawn Leu & Anh Nguyen‐Thi‐Phuong & Thanh Ngo‐Dang & Nguyen To‐The, 2023. "Adapting to the new normal: A sustainable livelihood framework for the informal sectors during COVID‐19," Review of Development Economics, Wiley Blackwell, vol. 27(2), pages 1092-1112, May.

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