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Achieving Economic and Ecological Resilience through Natural Resource Management

Ram Ranjan

Abstract


Historically, the subsistence based lifestyles of small scale economies (SSEs) have avoided pushing the stock of their natural resources beyond thresholds where their resilience could be lost. However, rising frequencies of natural disasters coupled with a growing outside influence from the developed economies are increasingly putting pressure on the economic and natural resources of these societies. This paper explores the nature and role of inter-linkages between ecological and economic resilience in SSEs towards maintaining long term sustainability in the face of these external influences. It is shown that initial conditions associated with the stock of natural and physical capital could be crucial factors in determining their successful transition towards higher economic growth without depleting their natural stock. When natural hazards pose risks of loss of natural capital, the rate of capital accumulation could increase or decrease depending upon the relation of such risks with natural and physical capital stocks

Keywords


Economic Resilience, Ecological Resilience, Natural Hazards, Small Scale Economies, Poisson Process

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