The Changing Wealth of Nations 2021 : Managing Assets for the Future

It is now clear that a narrow focus on the growth of gross domestic product (GDP) is insufficient to achieve humanity’s aspirations for sustainable prosperity. Wellfunctioning ecosystems and educated populations are requisites for sustainable wellbeing. These and other too-often-neglected ingredient...

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Main Author:	World Bank
Format:	Book
Published:	Washington, DC: World Bank 2021
Subjects:	WEALTH ACCOUNTING MACROECONOMICS HUMAN CAPITAL NATURAL RESOURCES ASSETS INVESTMENT NATURAL CAPITAL SUSTAINABILITY ENVIRONMENT PROSPERITY
Online Access:	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/500171635402227325/main-report http://hdl.handle.net/10986/36400

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recordtype	oai_dc
spelling	okr-10986-364002021-12-22T05:11:04Z The Changing Wealth of Nations 2021 : Managing Assets for the Future World Bank WEALTH ACCOUNTING MACROECONOMICS HUMAN CAPITAL NATURAL RESOURCES ASSETS INVESTMENT NATURAL CAPITAL SUSTAINABILITY ENVIRONMENT PROSPERITY It is now clear that a narrow focus on the growth of gross domestic product (GDP) is insufficient to achieve humanity’s aspirations for sustainable prosperity. Wellfunctioning ecosystems and educated populations are requisites for sustainable wellbeing. These and other too-often-neglected ingredients of national wealth must be addressed if the development path is to be sustainable. The Changing Wealth of Nations 2021: Managing Assets for the Future provides the most comprehensive accounting of the wealth of nations, an in-depth analysis of the evolution of wealth, and pathways to build wealth for the future. This report—and the accompanying global database—firmly establishes comprehensive wealth as a measure of sustainability and a key component of country analytics. It expands the coverage of wealth accounts and improves our understanding of the quality of all assets, notably, natural capital. Wealth—the stock of produced, natural, and human capital—is measured as the sum of assets that yield a stream of benefits over time. Changes in the wealth of nations matter because they reflect the change in countries’ assets that underpin future income. Countries regularly track GDP as an indicator of their economic progress, but not wealth, and national wealth has a more direct and long-term impact on people’s lives. This report provides a new set of tools and analysis to help policy makers navigate risks and to guide collective action. Wealth accounts can be applied in macroeconomic analysis to areas of major policy concern such as climate change and natural resource management. This report can be used to look beyond GDP, to gauge nations’ economic well-being, and to promote sustainable prosperity. 2021-10-18T15:32:24Z 2021-10-18T15:32:24Z 2021-10-27 Book https://documents.worldbank.org/en/publication/documents-reports/documentdetail/500171635402227325/main-report 978-1-4648-1590-4 http://hdl.handle.net/10986/36400 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank Washington, DC: World Bank Publications & Research Publications & Research :: Publication
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	WEALTH ACCOUNTING MACROECONOMICS HUMAN CAPITAL NATURAL RESOURCES ASSETS INVESTMENT NATURAL CAPITAL SUSTAINABILITY ENVIRONMENT PROSPERITY
spellingShingle	WEALTH ACCOUNTING MACROECONOMICS HUMAN CAPITAL NATURAL RESOURCES ASSETS INVESTMENT NATURAL CAPITAL SUSTAINABILITY ENVIRONMENT PROSPERITY World Bank The Changing Wealth of Nations 2021 : Managing Assets for the Future
description	It is now clear that a narrow focus on the growth of gross domestic product (GDP) is insufficient to achieve humanity’s aspirations for sustainable prosperity. Wellfunctioning ecosystems and educated populations are requisites for sustainable wellbeing. These and other too-often-neglected ingredients of national wealth must be addressed if the development path is to be sustainable. The Changing Wealth of Nations 2021: Managing Assets for the Future provides the most comprehensive accounting of the wealth of nations, an in-depth analysis of the evolution of wealth, and pathways to build wealth for the future. This report—and the accompanying global database—firmly establishes comprehensive wealth as a measure of sustainability and a key component of country analytics. It expands the coverage of wealth accounts and improves our understanding of the quality of all assets, notably, natural capital. Wealth—the stock of produced, natural, and human capital—is measured as the sum of assets that yield a stream of benefits over time. Changes in the wealth of nations matter because they reflect the change in countries’ assets that underpin future income. Countries regularly track GDP as an indicator of their economic progress, but not wealth, and national wealth has a more direct and long-term impact on people’s lives. This report provides a new set of tools and analysis to help policy makers navigate risks and to guide collective action. Wealth accounts can be applied in macroeconomic analysis to areas of major policy concern such as climate change and natural resource management. This report can be used to look beyond GDP, to gauge nations’ economic well-being, and to promote sustainable prosperity.
format	Book
author	World Bank
author_facet	World Bank
author_sort	World Bank
title	The Changing Wealth of Nations 2021 : Managing Assets for the Future
title_short	The Changing Wealth of Nations 2021 : Managing Assets for the Future
title_full	The Changing Wealth of Nations 2021 : Managing Assets for the Future
title_fullStr	The Changing Wealth of Nations 2021 : Managing Assets for the Future
title_full_unstemmed	The Changing Wealth of Nations 2021 : Managing Assets for the Future
title_sort	changing wealth of nations 2021 : managing assets for the future
publisher	Washington, DC: World Bank
publishDate	2021
url	https://documents.worldbank.org/en/publication/documents-reports/documentdetail/500171635402227325/main-report http://hdl.handle.net/10986/36400
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The Changing Wealth of Nations 2021 : Managing Assets for the Future

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