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Tracing Sustainability in the Long Run: Genuine Savings Estimates 1850–2018

McLaughin, Eoin ; Ducoing, Cristian LU orcid and Oxley, Les (2025) In Studies in Income and Wealth 82. p.63-104
Abstract
We introduce a new database of historical Genuine Savings (GS), an indicator of sustainable development promoted by theWorld Bank and widely used in contemporary economic research. GS derives from the theoretical work on wealth accounting, and addresses shortcomings in conventional metrics of economic development by incorporating broader measures of saving and investment, including human capital (education), and natural resource depletion. Its value as an indicator is determined by its ability to be used to predict future well-being. This article provides consistent historical estimates of GS since 1850 for 25 countries to enhance, complement, and contextualise the work of theWorld Bank, scholars and consultants.
Please use this url to cite or link to this publication:
author
; and
organization
publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
keywords
Genuine Savings, Sustainability, economic history
host publication
Measuring and accounting for environmental public goods a national accounts perspective
series title
Studies in Income and Wealth
editor
Muller, Nicholas ; Fenichel, Eli and Bohman, Mary
volume
82
pages
41 pages
publisher
University of Chicago Press
ISBN
9780226839356
project
Genuine Savings as a measure of sustainable development. Towards a GDP replacement.
language
English
LU publication?
yes
id
928a8445-d407-4dc4-9407-5d2719949457
date added to LUP
2025-05-23 09:52:06
date last changed
2025-05-26 13:33:47
@inbook{928a8445-d407-4dc4-9407-5d2719949457,
  abstract     = {{We introduce a new database of historical Genuine Savings (GS), an indicator of sustainable development promoted by theWorld Bank and widely used in contemporary economic research. GS derives from the theoretical work on wealth accounting, and addresses shortcomings in conventional metrics of economic development by incorporating broader measures of saving and investment, including human capital (education), and natural resource depletion. Its value as an indicator is determined by its ability to be used to predict future well-being. This article provides consistent historical estimates of GS since 1850 for 25 countries to enhance, complement, and contextualise the work of theWorld Bank, scholars and consultants.}},
  author       = {{McLaughin, Eoin and Ducoing, Cristian and Oxley, Les}},
  booktitle    = {{Measuring and accounting for environmental public goods a national accounts perspective}},
  editor       = {{Muller, Nicholas and Fenichel, Eli and Bohman, Mary}},
  isbn         = {{9780226839356}},
  keywords     = {{Genuine Savings; Sustainability; economic history}},
  language     = {{eng}},
  pages        = {{63--104}},
  publisher    = {{University of Chicago Press}},
  series       = {{Studies in Income and Wealth}},
  title        = {{Tracing Sustainability in the Long Run: Genuine Savings Estimates 1850–2018}},
  volume       = {{82}},
  year         = {{2025}},
}