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A Sustainable Century?: Genuine Savings in Developing and Developed Countries, 1900-2000

Ducoing, Cristian LU ; Blum , Matthias and McLaughin, Eoin (2017) In National Wealth: What is Missing, Why it Matters
Abstract
This chapter traces the long-run development of Genuine Savings (GS) using a panel of eleven countries during the twentieth century. This panel covers a number of developed countries (Great Britain, Germany,Switzerland, France, the US, and Australia) as well as a set of resource-abundant countries in Latin America(Argentina, Brazil, Chile, Colombia, and Mexico). These countries represent approximately 50 percent of the world’s output in terms of Gross Domestic Product (GDP) by 1950, and include large economies and small open economies, and resource-rich and resource-scarce countries, thus allowing us to compare their historical experiences. Components of GS considered include physical and human capital as well asresource extraction and... (More)
This chapter traces the long-run development of Genuine Savings (GS) using a panel of eleven countries during the twentieth century. This panel covers a number of developed countries (Great Britain, Germany,Switzerland, France, the US, and Australia) as well as a set of resource-abundant countries in Latin America(Argentina, Brazil, Chile, Colombia, and Mexico). These countries represent approximately 50 percent of the world’s output in terms of Gross Domestic Product (GDP) by 1950, and include large economies and small open economies, and resource-rich and resource-scarce countries, thus allowing us to compare their historical experiences. Components of GS considered include physical and human capital as well asresource extraction and pollution damages. Generally, we find evidence of positive GS over the course of the twentieth century, although the two World Wars and the Great Depression left considerable marks. Also, we found striking differences between Latin American and developed countries when Total Factor Productivity(TFP) is included; this could be a signal of natural resource curse or technological gaps unnoticed in previous works. (Less)
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in
National Wealth: What is Missing, Why it Matters
editor
Hamilton, Kirk ; Hepburn, Cameron ; and
publisher
Oxford University Press
ISBN
9780198803720
language
English
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yes
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24a451e6-8e08-4efe-9bf4-7304410a0ce6
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https://global.oup.com/academic/product/national-wealth-9780198803720?cc=gb&lang=en&#
date added to LUP
2017-10-26 17:52:50
date last changed
2017-10-27 13:08:03
@inbook{24a451e6-8e08-4efe-9bf4-7304410a0ce6,
  abstract     = {This chapter traces the long-run development of Genuine Savings (GS) using a panel of eleven countries during the twentieth century. This panel covers a number of developed countries (Great Britain, Germany,Switzerland, France, the US, and Australia) as well as a set of resource-abundant countries in Latin America(Argentina, Brazil, Chile, Colombia, and Mexico). These countries represent approximately 50 percent of the world’s output in terms of Gross Domestic Product (GDP) by 1950, and include large economies and small open economies, and resource-rich and resource-scarce countries, thus allowing us to compare their historical experiences. Components of GS considered include physical and human capital as well asresource extraction and pollution damages. Generally, we find evidence of positive GS over the course of the twentieth century, although the two World Wars and the Great Depression left considerable marks. Also, we found striking differences between Latin American and developed countries when Total Factor Productivity(TFP) is included; this could be a signal of natural resource curse or technological gaps unnoticed in previous works.},
  author       = {Ducoing, Cristian and Blum , Matthias and McLaughin,  Eoin},
  editor       = {Hamilton, Kirk  and Hepburn, Cameron },
  isbn         = {9780198803720},
  language     = {eng},
  publisher    = {Oxford University Press},
  series       = {National Wealth: What is Missing, Why it Matters },
  title        = {A Sustainable Century?: Genuine Savings in Developing and Developed Countries, 1900-2000},
  year         = {2017},
}