...Bradisha Smith 100 111 411 Bradisha Smith 100 111 411 Negative Externalities of Tourism & Foreign Investment in The Bahamas Environmental Economics Negative Externalities of Tourism & Foreign Investment in The Bahamas Environmental Economics Negative Externalities of Tourism & Foreign Investment on The Bahamas’ Environment Although when the first few thoughts that come to mind when The Bahamas is mentioned to outsiders are paradise, luxury, and dream, the complete opposite comes to mind for its locals. The country is indeed a unique treasure of the Atlantic Ocean, however the price that citizens and the environment must pay to sustain such a legacy is starting to fog the crystal clear image the tourist destination needs desperately for its prosperity. The Bahamas’ waters and coastlines are part of its culture and are critical to its economy, as tourism-related activities employ about half of the work force. The livelihoods of many people are dependent on the beautiful islands and seas. Yet, the natural resources on which the country rely so much are under pressure from overfishing and coastal development. Special features like scuba diving and snorkeling sites that exist in the massive Andros Barrier Reef, Thunderball Grotto (of James Bond fame) and the black-coral gardens off Bimini are just a few of the country’s natural resources under threat as a result of careless, profit hungry foreign investors, inexperienced tourists and a financially desperate...
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...Purpose The purpose of this paper is to gain an understanding of marine protection areas within Australian waters and to analyse its policy from an environmental and economic viewpoint, in order to forward policy recommendations for future consideration. A Background to Environmental Policy The underlying assumption behind environmental policy is that by designing social intervention we can bring about environmental improvement. However, designing a policy that actually produces the changes you seek is extremely difficult. Chiefly, planning and policy attempt to exercise control, to develop a desired future (Thomas 2007, p.7). But control is difficult enough to achieve over people, let alone trying to control the physical environment (Thomas 2007, p.7). Another fundamental issue for policy-makers is the direction of the policy. In particular they have to consider whether they are attempting to prevent environmental impacts that result from human action, or whether they are attempting to adapt to such changes, consciously or unconsciously (Thomas 2007, p.8). Natural Resources Natural resources have been critical for human welfare since people first started to walk the earth several million years ago (Field 2005 p.27). Natural resource economics is the study of how the flow of goods and services derived from natural resources is, and should be, managed in today’s world (Field 2005 p.37). Field continues to state that resource management problems derive from the underlying...
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...farming 3.2. Algoa Bay 3.3. Economic Methodology: Cost/Benfit analysis 3. Case Study: Algoa Bay fin fish farming project 4. Analysis and Policy Implications 5. Conclusion 1. Introduction The global level of fish stocks are on an overall decline due to overfishing. Areas within South Africa such as the Eastern Cape Province are considered to be the second greatest producing province of aquaculture commodities. Because of the rich aquaculture within the Eastern Cape, the Departments of Agriculture, Forestry and Fisheries, through various criteria based on a Strategic Environmental Assessment (SEA), have selected Algoa Bay within the Eastern Cape to introduce fin fish farming. The various fin fish that are intended to be farmed in this area are linked fishery exports that contribute approximately R411 million per annum in the Eastern Cape. Thus study intends to investigate the development proposal aimed at increasing the growth of the aquaculture industry within South Africa as well as conducting an investigation into the economic and environmental issues associated with the introduction of aquaculture within areas such as Algoa Bay. The objectives with the introduction of fish farms are to increase job creation within the area and more importantly to manage the dwindling stocks of wild fin fish. A cost and benefit analysis will be applied to the Algoa Bay case study in order to establish the economic costs and benefits, and to establish whether...
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...Homework on Environmental Economics 1. Draw a graph showing the private marginal cost, social marginal cost, private marginal benefit, and social marginal benefit of gasoline when there is a negative externality – for example, dirty exhaust from a tailpipe. Assume that neither supply nor demand is perfectly elastic or perfectly inelastic. [pic] 2. If government chose to tackle the problem by taxing the sellers of gasoline a constant tax per gallon sold, show these things on your graph: a. the tax b. the new equilibrium price and quantity [pic] 3. Is the increase in price equal to the tax per gallon? Use your graph to answer this question. Yes it should be unless there are additional taxes 4. Is there any way to figure out if the tax is equal to the external cost of the gasoline? 5. Consumers obviously have less money left, after they buy gasoline, as a result of the tax. Give an example of something government can do to help consumers, while maintaining the tax and its resulting disincentive for purchasing gasoline. What are the pros and cons of your idea? Government can do things to make it so people don’t have to use cars, like improve public transit, by putting in bus lanes and promoting alternative methods of transportation like better bike routes with lanes and traffic lights for bikers. This would be good in the sense that we are making solid infrastructure investments, but it would be...
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...Explain the difference between Neoclassical Environmental Economics, Ecological Economics, and Natural Resource Economics. The three approaches originate from three different schools of thought. Broadly, Neoclassical Environmental Economics (NEE) is the opposite of the Ecological Economics (EE), and Natural Resource Economics (NRE) lies somewhere between them. Let’s begin with the opposing views. Field states, ‘Environmental Economics is the application of the principles of economics to the study of how environmental resources are managed. (Field & Field 2013:2). In gist, NEE is an Anthropospheric view of the environment through micro and macro-economic principles and sociopolitical influences that ignores the other spheres of life. The environment, is a subsystem of economics and has no intrinsic value. It is merely a factor of production, and only manufactured goods/services have an intrinsic value. EE, on the other hand, is a holistic approach, broader in scope, concerned with the supply and demand of energy and matter within the biosphere, hydrosphere, lithosphere and atmosphere - where contrastingly, the Anthroposphere is the subsystem. EE claims that NEE is totally dependent on the environment and that residuals and pollution are disruptive to natural processes and diminishes the earth’s bio-capacity. Environmental Economics’ primary focus is to manage the environment to supply services and goods in exchange for money (MO 2015 quoting Tietenberg 2014:7) whereas...
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...The economic benefits of environmental policy A project under the Framework contract for economic analysis ENV.G.1/FRA/2006/0073 - 2nd FINAL REPORT November 2009 Matt Raymenta, Elke Pirgmaierb, Griet De Ceusterc, Friedrich Hinterbergerb, Onno Kuikd, Henry Leveson Gowera, Christine Polzinb, Adarsh Varmaa a b c d GHK Sustainable Europe Research Institute (SERI) Transport & Mobility Leuven VU University Amsterdam, Institute for Environmental Studies (IVM) Institute for Environmental Studies Vrije Universiteit De Boelelaan 1087 1081 HV AMSTERDAM The Netherlands Tel. ++31-20-5989 555 Fax. ++31-20-5989 553 E-mail: info@ivm.falw.vu.nl Internet: http://www.vu.nl/ivm vrije Universiteit amsterdam Contents Executive Summary 1. 2. 3. 3.1 3.2 3.3 3.4 3.5 3.6 4. 4.1 4.2 4.3 4.4 4.5 4.6 5. 5.1 5.2 5.3 5.4 5.5 5.6 6. 6.1 6.2 6.3 6.4 6.5 6.6 7. 7.1 7.2 7.3 7.4 7.5 8. 8.1 Introduction Environmental Policy and the Economy Environmental Policies and Productivity Description and background Policy instruments Review of evidence from the wider literature Evidence from examples and case studies Scale of economic benefits to date and assessment of the further potential Beneficiaries and timescale Environmental Policies and Innovation Description and background Policy instruments Review of evidence Examples and case studies Scale of economic benefits Beneficiaries and timescale Environmental Policies and Employment Description and background Policy instruments Review of evidence from...
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...Environmental and Economic Impact Assessment By Lori Wiley May 16, 2016 Eco/370 In Chapter 11 a narrow strip of land that is considered rainforest country is discussed. This land is known as the Tongass National Forest. Due to it being so scarce and the cutting of trees for timber, it poses a great threat compared to the tropical rainforests. This forest was once untouched and preserved. Over recent years and decades land has been converted into private land and owned by the state of Alaska. President Clinton put the Roadless Area Conservation Rule in force to protect nearly one-third of the 192 million acres in the national forest system, nationwide (B.C Field, 2013). The Bush administration promised to uphold the rule when elected. However, the Bush administration lied and withdrew it. This left 9.3 million acres without protection. This puts much of the heart of Alaska's rainforest, once again, back on the chopping block (B.C Field, 2013). The big ancient tree forest is a big target to the logging companies. These big trees provide much needed shelter to wildlife living within the forest. The timber industry is tearing out the heart of the Tongass Rainforest. The problem with logging is it is somewhat economic. Logging on private and public lands has been heavily subsidized, and industry's plan has been to log the best of the forest first, then the best of what is left. About half of forest covered with big trees and two-thirds of the biggest-tree stands have been...
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...Externality+and+Efficiency+ Contents' Externality+...........................................................................................................................................................+2+ Externality+and+efficiency+................................................................................................................................+2+ Consumption7consumption+externality+..........................................................................................................+3+ Marginal+benefit+and+marginal+cost+of+externality+..........................................................................................+3+ The+Coase+theorem+.........................................................................................................................................+7+ Production7production+externality+ ...............................................................................................................+12+ . Polluting+monopolist+and+the+second+best+problem+.....................................................................................+14+ Public+goods+..................................................................................................................................................+21+ Aggregating+the+MWTP+curves+for+a+public+good+..........................................................................................+22+ Aggregated+market+demand+....................................................
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...1. A graph showing the growth of forest volume over time looks like ... 1) A U shape 2) An inverted U shape 3) An S shape 4) A pyramid 5) A straight line 2. Maximizing the profit of timber harvesting involves all of the following except… 1) The total costs of harvesting 2) The total revenues from harvesting 3) The interest rate 4) The ecological value of forest diversity 5) The mean annual increment 3. The mean annual increment is calculated by ... 1) Dividing the annual change in biomass by the age of a forest 2) Dividing the total biomass by the age of a forest 3) Multiplying the annual change in biomass by the age of a forest 4) Dividing the annual change in biomass by the interest rate 5) Multiplying the annual change in biomass by the interest rate 4. A higher discount rate will tend to do all of the following except ... 1) Reduce the optimal harvesting period 2) Increase clear cutting 3) Encourage timber harvesting to pay off debts 4) Reduce the mean annual increment 5) Increase ecological damages to forests 5. What is the main cause of global tropical deforestation? 1) Slash-and-burn agriculture 2) Timber harvesting for export 3) Forest clearing for commercial ranches 4) Forest cutting for pulp 5) Forest clearing to build cities 6. How does total forested area tend to change as human populations increase? 1) Total forested area continually decreases 2) Total forested area continually increases 3) Total forested area...
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...In 1991, Mahathir Mohamad, reached his tenth year as prime minister of Malaysia, a country that observed a long period of economic stability with an annual average economic growth of 6.2% in the previous decade. Concerned about the new stages of economic development Mahathir went to New York looking for of foreign investment. In that time, the timber exportation had brought more foreign exchange than tin and rubber exportation. However, studies had indicated that this harvest without a rigid control would lead to a rapid deforestation of the region. Environmental groups, that said be concerned about the consequences of deforestation, threatened to boycott the use in the Western of timber-derived products produced by Malaysia. In this scenario, the question to be analyzed is to answer to international pressure of environmentalists, to ensure the attraction of new investments, without an abrupt break with the timber industry, essential for the politic economic and social stability of the country. The most appropriate decision is partially accept the demands of environmentalists. The short-term action is to resume the agenda of the International Tropical Timber Organization (ITTO) to search results that combine economic viability and environmental of the timber industry. Although internally controversial, the deforestation reduction will be naturally seen as a market move in response to projections of falling of commodities prices. In the long term, the country should direct...
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...use value 3) Option value 4) Bequest value 5) Existence value 2. A wildlife preserve provides what type of economic benefits? 1) Use values only 2) Non-use values only 3) Existence values only 4) Direct and indirect use values only 5) Both use and non-use values 3. A decision to postpone commercial development of an undisturbed parcel shows an example of what type of economic benefits? 1) Direct use values 2) Indirect use values 3) Existence values 4) Option values 5) Bequest values 4. Which one of the following valuation techniques is not based on the value of marketed goods or services? 1) Hedonic pricing 2) Avoided cost valuation 3) Production function valuation 4) Contingent valuation 5) Engineering cost valuation 5. An economist estimates the value of a nature preserve by calculating the price premium people pay for houses located adjacent to the preserve. This is an example of what type of economic valuation? 1) Hedonic pricing 2) Production function valuation 3) Contingent valuation 4) Travel cost method 5) Engineering cost valuation 6. Asking people to indicate their economic values in a survey is an example of what type of economic valuation? 1) Travel cost method 2) Contingent valuation 3) Hedonic pricing 4) Production function valuation 5) Avoided cost valuation 7. Valuing environmental services based on estimating the value of different characteristics...
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...Competitive Strategies and Government Policies ECO3665 Externalities When looking at economics we have learned the invisible hand always pushes the market to arrive at the best outcome for society as a whole. However sometimes what is good for a market or in this case WalMart may not be good for society. WalMart has a global presence which creates negative and positive externalities. WalMart does business with suppliers all over the world and has to obey a variety of government regulations in different countries. A negative externality WalMart is accused of is Pollution. The pollution is created by manufacturers who supply products to WalMart. WalMart has taken the approach not only to comply with regulations set by the governments, they go above and beyond regulations leading other businesses and setting a higher standard than required. WalMart insures their suppliers are also complying with government regulations, if suppliers do not comply they will no longer conduct business with them. WalMart’s model is responsible sourcing; they conduct audits verifying compliance of worker safety, well being and insuring environment friendly programs are enforced. In 2009, WalMart launched the Sustainability Index in collaboration with The Sustainability Consortium which will help WalMart and its suppliers reduce waste in the supply chain and create synergy so that waste can be recycled and eliminated and improve buying and selling of products. WalMart currently has three sustainability...
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...Accounting, Auditing & Accountability Journal On Valuing Nature Ruth Hines Article information: To cite this document: Ruth Hines, (1991),"On Valuing Nature", Accounting, Auditing & Accountability Journal, Vol. 4 Iss 3 pp. Permanent link to this document: http://dx.doi.org/10.1108/09513579110144802 Downloaded on: 22 September 2014, At: 09:07 (PT) References: this document contains references to 0 other documents. To copy this document: permissions@emeraldinsight.com The fulltext of this document has been downloaded 1512 times since 2006* Users who downloaded this article also downloaded: Downloaded by UNIVERSITI UTARA MALAYSIA At 09:07 22 September 2014 (PT) Ruth D. Hines, (1989),"Financial Accounting Knowledge, Conceptual Framework Projects and the Social Construction of the Accounting Profession", Accounting, Auditing & Accountability Journal, Vol. 2 Iss 2 pp. Christine Cooper, (1992),"The Non and Nom of Accounting for (M)other Nature", Accounting, Auditing & Accountability Journal, Vol. 5 Iss 3 pp. Christopher Humphrey, Robert W. Scapens, (1996),"Methodological themes: Theories and case studies of organizational accounting practices: limitation or liberation?", Accounting, Auditing & Accountability Journal, Vol. 9 Iss 4 pp. 86-106 Access to this document was granted through an Emerald subscription provided by 394654 [] For Authors If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service...
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...Significance of the Study These are the following individuals or institutions that will benefit from the findings of the study: Government. This study will provide a basis on making or improving government policies, rules and regulations regarding accounting for negative externalities in the Philippines. Since climate change is a global issue, the government of the Philippines is in need to intervene with institutions or companies that contribute to it. For the local government of Misamis Oriental, this study will help them on having a good picture on what is the accounting practice related to negative externalities of the companies located within the premises. This will help them on deciding to issue a local provisions or city ordinance and implementations in dealing with the current matter. The Society. The society can derive benefits from this study because whatever rules and policies that the government issues, they will be the end recipient. Sustainable developments by companies will also have a great impact on the society particularly on the regulation of activities that will mitigate the negative impact on the environment. Thus, they are able to lessen the burden in paying alone the consequences of the negative externalities emitted by companies. Academe. This particular institution will be benefited by making this study as one of the references in promoting sustainable responsibility to the students of their respective field. As moulder of the future accountants...
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...ECO 370 Week 5 Learning Team Assignment Environmental Economics, Disparity, and International Agreements Presentation To Buy This material Click below link http://www.uoptutors.com/ECO-370/ECO-370-Week-5-Learning-Team-Assignment-Environmental-Economics,-Disparity,-and-International-Agreements-Presentation ECO 370 Week 5 Learning Team Assignment Environmental Economics, Disparity, and International Agreements Presentation Research your chosen international agreement. Choose an interest group to whom you will address your presentation. The Learning Team will play the role of a team of environmental analysts reporting on the effects of this international agreement to the concerned interest group. Address the concerns of this interest group. Recommended interest groups include the following: • A local or national government • Labor unions or organizers • Recreation groups • Indigenous peoples • A large business or an industry association Prepare a 10- to 15-slide Microsoft® PowerPoint® presentation explaining the environmental and economic influence of your chosen international agreement. Include the following elements: • Describe your chosen international agreement and any related agreements or agencies. • Summarize the global environmental costs and benefits of your chosen international agreement. • Contrast the environmental effects of your chosen international agreement on the developing world with the effects on industrialized countries. ...
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