Abstract
Integrated Environmental and Economic Accounting (IEEA) advocated by United Nations (U. N.) isspreading over the world as a statistical concept that indicates a true welfare index of a country incorporating environmental burden on her economy. One may, however, find some ambiguous concepts in the guideline of the U.N. Thus estimation method and economic implication of IEEA should be further examined from the viewpoint of economic theory. Among others in this point, Mäler's study may particularly be worth pointed out. He considers a closed economy with natural resources in an intertemporal framework, and derives an IEEA taking account of the environmentalexternalities. The present article basically follows Mäler's formulation, but significantly differs from his study. That is, two kinds of species in an ecosystem are introduced as environmental stock resources. In the ecosystem, competitionbetween the different species is explicitly considered, indicating natural environmental fluctuation in the populations. Moreover, a new environmental evaluation and an ecosystem conservation strategy, which completely differ from the economic approach, are proposed for the ecological dynamics.
