« Natural Savings »: A New MicrosavingsProduct for Inflationary Environments. Howto Save Forests with Savings for and by t...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Sav...
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Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Savings for and by the Poor

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Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Savings for and by the Poor

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Bernard Lietaer - Natural Savings - A New Microsavings Product for Inflationary Environments. How to Save Forests with Savings for and by the Poor

  1. 1. « Natural Savings »: A New MicrosavingsProduct for Inflationary Environments. Howto Save Forests with Savings for and by thePoor?M. Hudon and B. LietaerDecentralized sustainable resource management in developing countries isimportant both from a poverty-reduction and an ecological viewpoint. At thesame time, no financial instrument is available that enables small savings to beprotected against the vagaries of monetary instabilities and inflation. This paperproposes a solution that would address all three issues simultaneously: aninflation-proof savings instrument, fully backed by the organic growth process ofa local resource, which at the same time gives a market-based financial incentiveto protect that natural resource. A specific example involving sustainable forestryplantations in the Third World is provided.JEL Classifications: G21, G32, L22, L31, O16, P23, Q14Keywords: savings, microfinance, natural resources, deforestation, inflation,sustainable development, poverty reduction. CEB Working Paper N° 06/014 2006Université Libre de Bruxelles – Solvay Business School – Centre Emile BernheimULB CP 145/01 50, avenue F.D. Roosevelt 1050 Brussels – BELGIUMe-mail: ceb@admin.ulb.ac.be Tel. : +32 (0)2/650.48.64 Fax : +32 (0)2/650.41.88

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