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The principles for valuing produced assets and calculating the decline in their value can be applied to natural resources in like manner. Natural resources provide a stream of services to the economy as they are used. The value of these services represents the resource rent of the asset. The decline in value of the resource (ignoring price effects and disasters) can be called the consumption of natural capital, parallel to the consumption of fixed capital.

Source Publication:
United Nations, European Commission, International Monetary Fund, Organisation for Economic Co-operation and Development, World Bank, 2005, Handbook of National Accounting: Integrated Environmental and Economic Accounting 2003, Studies in Methods, Series F, No.61, Rev.1, Glossary, United Nations, New York, para. 2.136.

Statistical Theme: Environmental statistics

Created on Wednesday, July 6, 2005

Last updated on Thursday, December 1, 2005