Accounting for natural capital in productivity of the mining and oil and gas sector / by Pat Adams, Weimin Wang.: CS11-0019/372E-PDF
This paper presents a growth accounting framework in which subsoil mineral and energy resources are recognized as natural capital input into the production process. It is the first study of its kind in Canada. Firstly, the income attributable to subsoil resources, or resource rent, is estimated as a surplus value after all extraction costs and normal returns on produced capital have been accounted for. The value of a resource reserve is then estimated as the present value of the future resource rents generated from the efficient extraction of the reserve. Lastly, with extraction as the observed service flows of natural capital, multifactor productivity (MFP) growth and the other sources of economic growth can be reassessed by updating the income shares of all inputs, and then, by estimating the contribution to growth coming from changes in the value of natural capital input. This framework is then applied to the Canadian oil and gas extraction sector.
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| Department/Agency | Statistics Canada. |
|---|---|
| Title | Accounting for natural capital in productivity of the mining and oil and gas sector / by Pat Adams, Weimin Wang. |
| Series title | Analytical Studies Branch research paper series, 1205-9153 ; No. 372 |
| Publication type | Series - View Master Record |
| Language | [English] |
| Other language editions | [French] |
| Format | Electronic |
| Electronic document | |
| Note(s) | Issued also in French under title: Comptabilisation du capital naturel dans la productivité du secteur de l’extraction minière et de l’extraction de pétrole et de gaz. "December 2015." Includes bibliographical references. |
| Publishing information | [Ottawa] : Statistics Canada, 2015. |
| Author / Contributor | Adams, Pat. Wang, Weimin, 1963- |
| Description | 25 p. : graphs, tables. |
| ISBN | 978-0-660-03962-6 |
| Catalogue number |
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| Departmental catalogue number | Catalogue no. 11F0019M - No. 372 |
| Subject terms | Petroleum industry Gas industry Industrial productivity |