IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Genuine Savings Rates in Developing Countries

Listed author(s):
  • 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.

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.

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

Volume (Year): 13 (1999)
Issue (Month): 2 (May)
Pages: 333-356

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: Web:

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

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

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.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.