Advanced Search
MyIDEAS: Login to save this article or follow this journal

Genuine Savings Rates in Developing Countries


Author Info

  • Hamilton, Kirk
  • Clemens, Michael


Augmented measures of savings and wealth in the national accounts are critical to conceptualizing and achieving sustainable development. After developing the theory of genuine savings-traditional net savings less the value of resource depletion and environmental degradation plus the value of investment in human capital--this article presents empirical estimates for developing countries. These calculations account for resource depletion and carbon dioxide emissions, using consistent time series data for 1970-93. The empirical evidence shows that levels of genuine savings are negative in a wide range of countries, particularly in Sub-Saharan Africa, and that these countries are being progressively impoverished. Increasing the coverage of natural resources and pollutants in our calculations would reduce the estimated levels of genuine savings overall. The use of genuine savings measures suggests a series of policy questions that are key to sustaining development. These are also explored, specifically the extent to which monetary and fiscal policies, exports of exhaustible resources, stronger resource policies, and pollution abatement measures boost genuine savings rates. For policymakers, linking sustainable development to genuine savings rates means that there are many possible interventions to increase sustainability, from the macroeconomic to the purely environmental. Copyright 1999 by Oxford University Press.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Article provided by World Bank Group in its journal World Bank Economic Review.

Volume (Year): 13 (1999)
Issue (Month): 2 (May)
Pages: 333-56

as in new window
Handle: RePEc:oup:wbecrv:v:13:y:1999:i:2:p:333-56

Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Phone: (202) 477-1234
Fax: 01865 267 985
Web page:
More information through EDIRC

Order Information:

Related research



No references listed on IDEAS
You can help add them by filling out this form.


Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page.


This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.


Access and download statistics


When requesting a correction, please mention this item's handle: RePEc:oup:wbecrv:v:13:y:1999:i:2:p:333-56. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.