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Where is the Wealth of Nations? Measuring Capital for the 21st Century

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  • World Bank
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    Abstract

    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 aims to 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. This publication 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 fourth part reviews existing applications of resource and environmental accounting.

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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/7505/348550REVISED0101Official0use0ONLY1.pdf?sequence=1
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    Bibliographic Info

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    This book is provided by The World Bank in its series World Bank Publications with number 7505 and published in 2005.

    ISBN: 978-0-8213-6354-6
    Handle: RePEc:wbk:wbpubs:7505

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    Postal: 1818 H Street, N.W., Washington, DC 20433
    Phone: (202) 477-1234
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    Web page: https://openknowledge.worldbank.org
    More information through EDIRC

    Related research

    Keywords: Macroeconomics and Economic Growth - Investment and Investment Climate Macroeconomics and Economic Growth - Economic Conditions and Volatility Poverty Reduction - Inequality Economic Theory and Research Environmental Economics and Policies Environment;

    References

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    1. M. L. Weitzman, 1974. "On the Welfare Significance of National Product in Dynamic Economy," Working papers 125, Massachusetts Institute of Technology (MIT), Department of Economics.
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    Cited by:
    1. Quamrul H. Ashraf & Ashley Lester & David N. Weil, 2008. "When Does Improving Health Raise GDP?," NBER Working Papers 14449, National Bureau of Economic Research, Inc.
    2. Quamrul H. Ashraf & David N. Weil & Joshua Wilde, 2011. "The Effect of Interventions to Reduce Fertility on Economic Growth," NBER Working Papers 17377, National Bureau of Economic Research, Inc.
    3. Kenneth Kuttner & Adam Posen, 2011. "How Flexible Can Inflation Targeting Be and Still Work?," Department of Economics Working Papers 2011-10, Department of Economics, Williams College, revised Sep 2011.

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