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Book
1 online resource.
"The World Bank has been publishing estimates of adjusted net or "genuine" saving since 1999. This measure of saving treats depletion of natural resources as a type of economic depreciation. Hamilton uses recent theoretical results relating growth in saving to growth in future consumption to provide a test of genuine saving using historical data. Did measured genuine saving in 1976, for example, "predict" the observed changes in consumption over subsequent decades? The author tests four alternative measures of saving econometrically. The worst measure, in terms of explained variation, is traditional net saving. Genuine saving adjusted to reflect population growth exhibits the worst fit with theory. Both gross saving and genuine saving perform better, with good concordance with theory, while genuine saving exhibits a moderate advantage in terms of goodness of fit. "--World Bank web site.
Book
1 online resource.
With the notable exception of China, in most countries with below-median per capita income the growth rate of the population is greater than that of total wealth. This trend is ultimately unsustainable. For many of these countries, policies for sustainability will require both boosting savings and slowing population growth.
Book
xx, 188 p. : ill. ; 24 cm.
The book presents estimates of total wealth for nearly 120 countries, using economic theory to decompose the wealth of a nation into its component pieces: produced capital, natural resources and human resources. The wealth estimates provide a unique opportunity to look at economic management from a broader and comprehensive perspective. The book?s basic tenet is that economic development can be conceived as a process of portfolio management, so that sustainability becomes an integral part of economic policy making. The rigorous analysis, presented in accessible format, tackles issues such as growth, development and equity. Where is the Wealth of Nations? is organized in four sections. The first part introduces the wealth estimates and highlights the main facts on the level and composition of wealth across countries. The second part analyzes changes in wealth and how they matter for economic policy. The third part deals with the level of wealth, its composition and links to growth and inequality. The last part reviews existing applications of resource and environmental accounting.
(source: Nielsen Book Data)9780821363546 20160528
Green Library
Book
xx, 188 p. : ill. ; 24 cm
  • The Millennium capital assessment
  • The wealth stock estimates
  • Recent genuine saving estimates
  • The importance of investing resource rents: a Hartwick Rule counterfactual
  • The importance of population dynamics: changes in wealth per capita
  • Testing genuine saving
  • Explaining the intangible capital residual: the role of human capital and institutions
  • Wealth and production
  • Developing and using environmental accounts.
The book presents estimates of total wealth for nearly 120 countries, using economic theory to decompose the wealth of a nation into its component pieces: produced capital, natural resources and human resources. The wealth estimates provide a unique opportunity to look at economic management from a broader and comprehensive perspective. The book?s basic tenet is that economic development can be conceived as a process of portfolio management, so that sustainability becomes an integral part of economic policy making. The rigorous analysis, presented in accessible format, tackles issues such as growth, development and equity. Where is the Wealth of Nations? is organized in four sections. The first part introduces the wealth estimates and highlights the main facts on the level and composition of wealth across countries. The second part analyzes changes in wealth and how they matter for economic policy. The third part deals with the level of wealth, its composition and links to growth and inequality. The last part reviews existing applications of resource and environmental accounting.
(source: Nielsen Book Data)9780821363546 20160528
Business Library

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