Accounting for Vietnam’s Wealth: The Role of Natural Resources

Tarp, Finn and Nguyen, Manh Hai and Vu Xuan, Nguyet Hong and Ho Cong, Hoa and Patricia, Silva and Jørgen Birk, Mortensen (2007): Accounting for Vietnam’s Wealth: The Role of Natural Resources. Published in:

Abstract

This study estimates the capital or stock value of Vietnam’s natural resources. Natural resources are special economic goods because they are not produced. As a consequence, natural resources yield economic profits—rents—if properly managed. These rents can be an important source of development finance for poor countries (World Bank, 2006). The value of natural resources is estimated based on the net present value of income flows that can be generated from these resources (resource rents). Thus the capital value of natural resources is the based on the value an investor would pay for the resource based on its income flow potential. Together with measures of the value from Vietnam’s other important resources, human and produced capital, one could then assess whether Vietnam is on a sustainable development path by monitoring the value of its wealth overtime.

• Item Type: MPRA Paper
• Language: English
• Keywords: wealth, Vietnam, natural resources
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O13 - Agriculture ; Natural Resources ; Energy ; Environment ; Other Primary Products; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q0 - General > Q01 - Sustainable Development; E - Macroeconomics and Monetary Economics > E0 - General > E01 - Measurement and Data on National Income and Product Accounts and Wealth ; Environmental Accounts

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