Testing for long-run "sustainability": Genuine Savings estimates for B ritain, 1760-2000
Genuine Savings has been proposed as an economic indicator of sustainable development, and has been the focus of World Bank sustainability assessments for countries globally. However, whilst the theoretical basis for Genuine Savings is well-established (Arrow et al, 2011; Hamilton and Withagen, 2007; Pezzey, 2004), its ability to forecast long-run trends in well-being remains un-tested. In this paper, we take a first step towards such an assessment by constructing a time series of estimates for produced, natural and human capital for Britain over the period 1760-2000, and use them to derive estimates of Genuine Savings. The next step in the project will be to compare these Genuine Savings estimates with a range of well-being indicators to answer the question: does positive Genuine Savings predict improvements in average well-be ing?
|Date of creation:||Apr 2012|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: +44 (0)1786 467473
Fax: +44 (0)1786 467469
Web page: http://www.econ.stir.ac.uk/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Trinh Le & John Gibson & Les Oxley, 2006. "A Forward-Looking Measure Of The Stock Of Human Capital In New Zealand," Manchester School, University of Manchester, vol. 74(5), pages 593-609, 09.
- Pezzey, J.C.V.John C. V., 2004. "One-sided sustainability tests with amenities, and changes in technology, trade and population," Journal of Environmental Economics and Management, Elsevier, vol. 48(1), pages 613-631, July.
- Prados de la Escosura, Leandro & Rosés, Joan R., 2010.
"Human capital and economic growth in Spain, 1850-2000,"
Explorations in Economic History,
Elsevier, vol. 47(4), pages 520-532, October.
- Leandro Prados de la Escosura & Joan R. Roses, 2009. "Human Capital and Economic Growth in Spain, 1850-2000," Working Papers in Economic History wp09-06, Universidad Carlos III, Instituto Figuerola de Historia y Ciencias Sociales.
- John C. V. Pezzey & Nick Hanley & Karen Turner & Dugald Tinch, 2004.
"Augmented Sustainability Measures for Scotland,"
Economics and Environment Network Working Papers
0404, Australian National University, Economics and Environment Network.
- John C. V. Pezzey & Nick Hanley & Nick Hanley & Karen Turner & Dugald Tinch, 2003. "Augmented Sustainability Measures for Scotland," Economics and Environment Network Working Papers 0302, Australian National University, Economics and Environment Network.
- John Pezzey & Nick Hanley & Karen Turner & Dugald Tinch, 2003. "Augmented Sustainability Measures for Scotland," Working Papers 2003_11, Business School - Economics, University of Glasgow.
- d'Autume, Antoine & Schubert, Katheline, 2008.
"Hartwick's rule and maximin paths when the exhaustible resource has an amenity value,"
Journal of Environmental Economics and Management,
Elsevier, vol. 56(3), pages 260-274, November.
- Antoine d'Autume & Katheline Schubert, 2008. "Hartwick's rule and maximin paths when the exhaustible resource has an amenity value," Documents de travail du Centre d'Economie de la Sorbonne v08031, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Antoine D'Autume & Katheline Schubert, 2008. "Hartwick's rule and maximin paths when the exhaustible resource has an amenity value," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00275765, HAL.
- John Hartwick, 1976.
"Intergenerational Equity and the Investing of Rents from Exhaustible Resources,"
220, Queen's University, Department of Economics.
- Hartwick, John M, 1977. "Intergenerational Equity and the Investing of Rents from Exhaustible Resources," American Economic Review, American Economic Association, vol. 67(5), pages 972-74, December.
- Arrow, Kenneth J. & Dasgupta, Partha & Goulder, Lawrence H. & Mumford, Kevin J. & Oleson, Kirsten, 2012.
"Sustainability and the measurement of wealth,"
Environment and Development Economics,
Cambridge University Press, vol. 17(03), pages 317-353, June.
- Ferreira, Susana & Vincent, Jeffrey R, 2005. "Genuine Savings: Leading Indicator of Sustainable Development?," Economic Development and Cultural Change, University of Chicago Press, vol. 53(3), pages 737-54, April.
- Pearce, David W. & Atkinson, Giles D., 1993. "Capital theory and the measurement of sustainable development: an indicator of "weak" sustainability," Ecological Economics, Elsevier, vol. 8(2), pages 103-108, October.
- Stephen Broadberry & Bruce Campbell & Alexander Klein & Mark Overton & Bas van Leeuwen, 2012. "British Economic Growth, 1270-1870: an output-based approach," Studies in Economics 1203, School of Economics, University of Kent.
When requesting a correction, please mention this item's handle: RePEc:stl:stledp:2012-05. 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: (Liam Delaney)
If references are entirely missing, you can add them using this form.