Testing Genuine Saving
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 t...
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| Format: | Policy Research Working Paper |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2005/04/5777957/testing-genuine-saving http://hdl.handle.net/10986/8925 |
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okr-10986-89252021-04-23T14:02:42Z Testing Genuine Saving Hamilton, Kirk ACCOUNTING ARBITRAGE BASE YEAR CAPITAL FORMATION CAPITAL GAINS CONSTANT RETURNS TO SCALE DAMAGES DEPOSITS DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DISCOUNT RATE ECONOMETRIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC WELFARE EMISSIONS EXCHANGE RATE EXTERNALITIES FISH FISHING FORESTRY GDP GDP PER CAPITA GROWTH THEORY HUMAN CAPITAL INCOME INTEREST RATE INVENTORY MARGINAL PRODUCT NATURAL RESOURCES OIL POLICY MAKERS POPULATION GROWTH PRESENT VALUE PRODUCERS PROFIT MAXIMIZATION PUBLIC EXPENDITURES SAVINGS SUSTAINABLE DEVELOPMENT TERMS OF TRADE TIME SERIES WEALTH 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. 2012-06-25T15:18:27Z 2012-06-25T15:18:27Z 2005-04 http://documents.worldbank.org/curated/en/2005/04/5777957/testing-genuine-saving http://hdl.handle.net/10986/8925 English Policy Research Working Paper; No. 3577 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Policy Research Working Paper Publications & Research |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English |
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ACCOUNTING ARBITRAGE BASE YEAR CAPITAL FORMATION CAPITAL GAINS CONSTANT RETURNS TO SCALE DAMAGES DEPOSITS DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DISCOUNT RATE ECONOMETRIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC WELFARE EMISSIONS EXCHANGE RATE EXTERNALITIES FISH FISHING FORESTRY GDP GDP PER CAPITA GROWTH THEORY HUMAN CAPITAL INCOME INTEREST RATE INVENTORY MARGINAL PRODUCT NATURAL RESOURCES OIL POLICY MAKERS POPULATION GROWTH PRESENT VALUE PRODUCERS PROFIT MAXIMIZATION PUBLIC EXPENDITURES SAVINGS SUSTAINABLE DEVELOPMENT TERMS OF TRADE TIME SERIES WEALTH |
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ACCOUNTING ARBITRAGE BASE YEAR CAPITAL FORMATION CAPITAL GAINS CONSTANT RETURNS TO SCALE DAMAGES DEPOSITS DEVELOPED COUNTRIES DEVELOPMENT ECONOMICS DISCOUNT RATE ECONOMETRIC ANALYSIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC PERFORMANCE ECONOMIC WELFARE EMISSIONS EXCHANGE RATE EXTERNALITIES FISH FISHING FORESTRY GDP GDP PER CAPITA GROWTH THEORY HUMAN CAPITAL INCOME INTEREST RATE INVENTORY MARGINAL PRODUCT NATURAL RESOURCES OIL POLICY MAKERS POPULATION GROWTH PRESENT VALUE PRODUCERS PROFIT MAXIMIZATION PUBLIC EXPENDITURES SAVINGS SUSTAINABLE DEVELOPMENT TERMS OF TRADE TIME SERIES WEALTH Hamilton, Kirk Testing Genuine Saving |
| relation |
Policy Research Working Paper; No. 3577 |
| description |
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. |
| format |
Publications & Research :: Policy Research Working Paper |
| author |
Hamilton, Kirk |
| author_facet |
Hamilton, Kirk |
| author_sort |
Hamilton, Kirk |
| title |
Testing Genuine Saving |
| title_short |
Testing Genuine Saving |
| title_full |
Testing Genuine Saving |
| title_fullStr |
Testing Genuine Saving |
| title_full_unstemmed |
Testing Genuine Saving |
| title_sort |
testing genuine saving |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2005/04/5777957/testing-genuine-saving http://hdl.handle.net/10986/8925 |
| _version_ |
1764407278764556288 |