The Genuine Saving Indicator: Estimates at the Subnational Level in Italy
In this paper we estimate the Genuine Saving (GS) of Italian regions in the period 1996-2005. The GS is a macroeconomic indicator of sustainability able to shed light on the future implications of current welfare levels, jointly considering the management of economic and natural assets. Despite the good performance of Italy as a whole during the considered period, our results show an uneven regional distribution of sustainability burdens, with the Basilicata region on an unsustainable development path, showing decreasing and negative value of GS. This results are mainly due to mismanagement of un-renewable natural resources (oil and gas). Failing this test of â€œweakâ€ sustainability, the Basilicata region is likely to incur a decline of welfare levels in the future.
|Date of creation:||2016|
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