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Progress along the path: evolving issues in the measurement of genuine saving

Atkinson, Giles and Hamilton, Kirk (2007) Progress along the path: evolving issues in the measurement of genuine saving. Environmental and Resource Economics, 37 (1). pp. 43-61. ISSN 0924-6460

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Abstract

More than 10 years since a practical linkage between sustainable development and a measure of national wealth—expanded to include natural and environmental resources— was first posited, the empirical estimation of adjusted net savings, dubbed ‘genuine’ saving, has evolved considerably. In this paper we take stock of both progress achieved and the challenges that remain. We begin by recalling the key points made in Pearce and Atkinson (1993, Ecol Econ 8, 103), which presented the first cross-country estimates of savings rates adjusted to reflect depletion and degradation of the environment.We then briefly summarise the evolution of the theoretical argument linking savings and sustainability. However, the main focus of this paper is an aspect that concerned David Pearce greatly, namely the evolution of the measurement of genuine savings.We identify and consider the empirical evidence with regard to two particular measurement issues: the valuation of exhaustible resources and environmental degradation. Common to the both issues are concerns about measuring changes in national wealth in real world economies.

Item Type: Article
Official URL: http://www.springerlink.com/content/100263/
Additional Information: © 2007 Springer
Library of Congress subject classification: H Social Sciences > HD Industries. Land use. Labor > HD100 Land Use
H Social Sciences > HB Economic Theory
G Geography. Anthropology. Recreation > GE Environmental Sciences
Journal of Economic Literature Classification System: Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounting; Environmental Equity
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q5 - Environmental Economics > Q53 - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics > Q3 - Nonrenewable Resources and Conservation > Q32 - Exhaustible Resources and Economic Development
Sets: Departments > Geography and Environment
Collections > Economists Online
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 16 Nov 2007
URL: http://eprints.lse.ac.uk/2883/

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