Sustaining Economic Welfare : Estimating Changes in Per Capita Wealth
The World Bank's "World Development Indicators 1999" highlights for the first time the "genuine" rate of saving for more than 100 countries around the globe. Genuine saving values the total change in economic assets, thereb...
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| Format: | Policy Research Working Paper |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2000/11/717431/sustaining-economic-welfare-estimating-changes-capita-wealth http://hdl.handle.net/10986/19768 |
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okr-10986-197682021-04-23T14:03:44Z Sustaining Economic Welfare : Estimating Changes in Per Capita Wealth Hamilton, Kirk ASSETS AVERAGE CHANGE AVERAGE GROWTH AVERAGE GROWTH RATE CAPITAL ACCUMULATION CARBON CARBON DIOXIDE COAL CONSUMERS CONSUMPTION GROWTH CONSUMPTION RATES COUNTRY RESULTS CROSS- COUNTRY INCOME CROSS-COUNTRY INCOME DAMAGES DEVELOPED WORLD DEVELOPING COUNTRIES DISCOUNT RATE ECONOMIC VALUE ECONOMIC WELFARE ELASTICITY ENVIRONMENTAL AMENITIES ENVIRONMENTAL MANAGEMENT EXCHANGE RATES EXPENDITURES FISHERIES GDP GDP PER CAPITA GNP GROWTH MODEL GROWTH MODELS GROWTH RATE HIGH GROWTH HIGH INCOME HUMAN CAPITAL INCOME DATA INCOME GROUPS INCREASING RETURNS INCREASING RETURNS TO SCALE INEQUALITY INVESTMENT EXPENDITURES LIBERALIZATION LIFE EXPECTANCY LOW INCOME LOW INCOME COUNTRIES MARGINAL PRODUCT MARGINAL UTILITY MEMBER COUNTRIES MIDDLE INCOME MIDDLE INCOME COUNTRIES NATIONAL ACCOUNTING NATIONAL ACCOUNTS NATIONAL INCOME NATURAL RESOURCES NATURE NEGATIVE GROWTH NEGATIVE WEALTH NOMINAL INCOME OBSERVED GROWTH OBSERVED GROWTH RATE OIL PER CAPITA CONSUMPTION PER CAPITA CONSUMPTION GROWTH PER CAPITA GROWTH PER CAPITA GROWTH RATE PER CAPITA INCOME POLICY RESEARCH POLLUTION POOR COUNTRIES POPULATION GROWTH POPULATION GROWTH RATES POSITIVE GROWTH PRESENT VALUE PRIVATE CONSUMPTION PRODUCTION FUNCTION PRODUCTIVE ASSETS PUBLIC EXPENDITURES PURCHASING POWER PURCHASING POWER PARITY RESOURCE DEPLETION SAVINGS SENSITIVITY ANALYSIS SOCIAL CAPITAL SOIL DEGRADATION SUSTAINABLE DEVELOPMENT TECHNOLOGICAL CHANGE TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH UTILITY FUNCTION VALUE ADDED VARIETY WAGES WEALTH WEALTH DISTRIBUTION The World Bank's "World Development Indicators 1999" highlights for the first time the "genuine" rate of saving for more than 100 countries around the globe. Genuine saving values the total change in economic assets, thereby providing an indicator of whether an economy is on a sustainable path. The Bank's new estimates of genuine saving broaden the usual national accounts definitions of assets to include human capital, minerals, energy, forest resources, and the stock of atmospheric carbon dioxide. Genuine saving measures the change in total assets rather than the change in per capita assets. Genuine saving data may answer the question, "Did total wealth rise or fall over the acoounting period?" But they do not address the question of whether an economy is sustainable with a growing population. Genuine saving could be positive even though per capita wealth is declining. The author explores the issue of measuring changes in per capita wealth--factoring in both growth in total assets (as measured by genuine saving) and population growth--as a more comprehensive indicator of sustainability. First he develops a theoretical approach to estimating total wealth. Then he presents cross-country estimates of changes in per capita wealth. Based on preliminary estimates, he concludes that in the majority of countries below the median per capita income, wealth is accumulating more slowly than the population is growing. 2014-08-27T18:26:03Z 2014-08-27T18:26:03Z 2000-11 http://documents.worldbank.org/curated/en/2000/11/717431/sustaining-economic-welfare-estimating-changes-capita-wealth http://hdl.handle.net/10986/19768 English en_US Policy Research Working Paper;No. 2498 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ASSETS AVERAGE CHANGE AVERAGE GROWTH AVERAGE GROWTH RATE CAPITAL ACCUMULATION CARBON CARBON DIOXIDE COAL CONSUMERS CONSUMPTION GROWTH CONSUMPTION RATES COUNTRY RESULTS CROSS- COUNTRY INCOME CROSS-COUNTRY INCOME DAMAGES DEVELOPED WORLD DEVELOPING COUNTRIES DISCOUNT RATE ECONOMIC VALUE ECONOMIC WELFARE ELASTICITY ENVIRONMENTAL AMENITIES ENVIRONMENTAL MANAGEMENT EXCHANGE RATES EXPENDITURES FISHERIES GDP GDP PER CAPITA GNP GROWTH MODEL GROWTH MODELS GROWTH RATE HIGH GROWTH HIGH INCOME HUMAN CAPITAL INCOME DATA INCOME GROUPS INCREASING RETURNS INCREASING RETURNS TO SCALE INEQUALITY INVESTMENT EXPENDITURES LIBERALIZATION LIFE EXPECTANCY LOW INCOME LOW INCOME COUNTRIES MARGINAL PRODUCT MARGINAL UTILITY MEMBER COUNTRIES MIDDLE INCOME MIDDLE INCOME COUNTRIES NATIONAL ACCOUNTING NATIONAL ACCOUNTS NATIONAL INCOME NATURAL RESOURCES NATURE NEGATIVE GROWTH NEGATIVE WEALTH NOMINAL INCOME OBSERVED GROWTH OBSERVED GROWTH RATE OIL PER CAPITA CONSUMPTION PER CAPITA CONSUMPTION GROWTH PER CAPITA GROWTH PER CAPITA GROWTH RATE PER CAPITA INCOME POLICY RESEARCH POLLUTION POOR COUNTRIES POPULATION GROWTH POPULATION GROWTH RATES POSITIVE GROWTH PRESENT VALUE PRIVATE CONSUMPTION PRODUCTION FUNCTION PRODUCTIVE ASSETS PUBLIC EXPENDITURES PURCHASING POWER PURCHASING POWER PARITY RESOURCE DEPLETION SAVINGS SENSITIVITY ANALYSIS SOCIAL CAPITAL SOIL DEGRADATION SUSTAINABLE DEVELOPMENT TECHNOLOGICAL CHANGE TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH UTILITY FUNCTION VALUE ADDED VARIETY WAGES WEALTH WEALTH DISTRIBUTION |
| spellingShingle |
ASSETS AVERAGE CHANGE AVERAGE GROWTH AVERAGE GROWTH RATE CAPITAL ACCUMULATION CARBON CARBON DIOXIDE COAL CONSUMERS CONSUMPTION GROWTH CONSUMPTION RATES COUNTRY RESULTS CROSS- COUNTRY INCOME CROSS-COUNTRY INCOME DAMAGES DEVELOPED WORLD DEVELOPING COUNTRIES DISCOUNT RATE ECONOMIC VALUE ECONOMIC WELFARE ELASTICITY ENVIRONMENTAL AMENITIES ENVIRONMENTAL MANAGEMENT EXCHANGE RATES EXPENDITURES FISHERIES GDP GDP PER CAPITA GNP GROWTH MODEL GROWTH MODELS GROWTH RATE HIGH GROWTH HIGH INCOME HUMAN CAPITAL INCOME DATA INCOME GROUPS INCREASING RETURNS INCREASING RETURNS TO SCALE INEQUALITY INVESTMENT EXPENDITURES LIBERALIZATION LIFE EXPECTANCY LOW INCOME LOW INCOME COUNTRIES MARGINAL PRODUCT MARGINAL UTILITY MEMBER COUNTRIES MIDDLE INCOME MIDDLE INCOME COUNTRIES NATIONAL ACCOUNTING NATIONAL ACCOUNTS NATIONAL INCOME NATURAL RESOURCES NATURE NEGATIVE GROWTH NEGATIVE WEALTH NOMINAL INCOME OBSERVED GROWTH OBSERVED GROWTH RATE OIL PER CAPITA CONSUMPTION PER CAPITA CONSUMPTION GROWTH PER CAPITA GROWTH PER CAPITA GROWTH RATE PER CAPITA INCOME POLICY RESEARCH POLLUTION POOR COUNTRIES POPULATION GROWTH POPULATION GROWTH RATES POSITIVE GROWTH PRESENT VALUE PRIVATE CONSUMPTION PRODUCTION FUNCTION PRODUCTIVE ASSETS PUBLIC EXPENDITURES PURCHASING POWER PURCHASING POWER PARITY RESOURCE DEPLETION SAVINGS SENSITIVITY ANALYSIS SOCIAL CAPITAL SOIL DEGRADATION SUSTAINABLE DEVELOPMENT TECHNOLOGICAL CHANGE TOTAL FACTOR PRODUCTIVITY TOTAL FACTOR PRODUCTIVITY GROWTH UTILITY FUNCTION VALUE ADDED VARIETY WAGES WEALTH WEALTH DISTRIBUTION Hamilton, Kirk Sustaining Economic Welfare : Estimating Changes in Per Capita Wealth |
| relation |
Policy Research Working Paper;No. 2498 |
| description |
The World Bank's "World
Development Indicators 1999" highlights for the first
time the "genuine" rate of saving for more than
100 countries around the globe. Genuine saving values the
total change in economic assets, thereby providing an
indicator of whether an economy is on a sustainable path.
The Bank's new estimates of genuine saving broaden the
usual national accounts definitions of assets to include
human capital, minerals, energy, forest resources, and the
stock of atmospheric carbon dioxide. Genuine saving measures
the change in total assets rather than the change in per
capita assets. Genuine saving data may answer the question,
"Did total wealth rise or fall over the acoounting
period?" But they do not address the question of
whether an economy is sustainable with a growing population.
Genuine saving could be positive even though per capita
wealth is declining. The author explores the issue of
measuring changes in per capita wealth--factoring in both
growth in total assets (as measured by genuine saving) and
population growth--as a more comprehensive indicator of
sustainability. First he develops a theoretical approach to
estimating total wealth. Then he presents cross-country
estimates of changes in per capita wealth. Based on
preliminary estimates, he concludes that in the majority of
countries below the median per capita income, wealth is
accumulating more slowly than the population is growing. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Hamilton, Kirk |
| author_facet |
Hamilton, Kirk |
| author_sort |
Hamilton, Kirk |
| title |
Sustaining Economic Welfare : Estimating Changes in Per Capita Wealth |
| title_short |
Sustaining Economic Welfare : Estimating Changes in Per Capita Wealth |
| title_full |
Sustaining Economic Welfare : Estimating Changes in Per Capita Wealth |
| title_fullStr |
Sustaining Economic Welfare : Estimating Changes in Per Capita Wealth |
| title_full_unstemmed |
Sustaining Economic Welfare : Estimating Changes in Per Capita Wealth |
| title_sort |
sustaining economic welfare : estimating changes in per capita wealth |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2000/11/717431/sustaining-economic-welfare-estimating-changes-capita-wealth http://hdl.handle.net/10986/19768 |
| _version_ |
1764440592596598784 |