The main purpose of this paper is to analyze the contribution of land capital to the growth of
emissions and income per capita in the long run. We collect new satellite data from the Earth
Observatory to obtain estimates of the Enhanced Vegetation Index at the country level for
the period 2000–2015. We use these data and the World Bank wealth estimates of natural
capital to calibrate and empirically test an extension of the Green Solow model with land
degradation and land capital investment. We show that the model is consistent with the
cross-country variation in growth rates of carbon emissions per capita and find that there
is convergence at the global level, with the contribution of land capital investment to the
growth of emissions being negative and significant in all specifications
