Abstract
Genuine Savings has emerged as the leading economic indicator of sustainable economic development at the country level. It derives from the literatures on weak sustainability, wealth accounting and national income accounting. We discuss the theoretical underpinnings of GS, focusing on the relationship between changes in a nation's extended capital stock and the future path of consumption. The indicator has entered widespread use propelled by the World Bank's publications, despite its varying performance as a predictor for future consumption. Notwithstanding the extensive body of literature reviewed, promising future research avenues are identified.
| Original language | English |
|---|---|
| Pages (from-to) | 779-806 |
| Journal | Journal of Economic Surveys |
| Volume | 29 |
| Issue number | 4 |
| Early online date | 8 Aug 2015 |
| DOIs | |
| Publication status | Published - Sept 2015 |
Keywords
- Sustainable development
- Genuine savings
- Comprehensive wealth
- Future well-being
- Intergenerational equity
- Resource allocation mechanism
- Dynamic optimisation
- Nature capital
Access to Document
- Hanley_et_al_JOESs_resubmit_22May
© 2015 John Wiley & Sons Ltd. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving. This work is made available online in accordance with the publisher’s policies. This is the author created, accepted version manuscript following peer review and may differ slightly from the final published version. The final published version of this work is available at: https://dx.doi.org/10.1111/joes.12120