کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
959185 929165 2014 18 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Testing genuine savings as a forward-looking indicator of future well-being over the (very) long-run
ترجمه فارسی عنوان
تست صرفه جویی واقعی به عنوان یک شاخص رو به جلو برای سلامتی در آینده (بسیار) طولانی مدت
کلمات کلیدی
توسعه پایدار، پس انداز واقعی، سرمایه گذاری جامع، رفاه آینده، تاریخ اقتصادی بریتانیا، پیشرفت تکنولوژی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی

Genuine Savings (GS) have been much used in recent years as an indicator of a country's sustainability. According to some theorists (e.g. Arrow et al., 2012), under certain conditions a country with a positive level of GS should experience non-declining future utility, given the assumption of unlimited substitutability among all forms of capital (sometimes called “weak” sustainability). This paper reports the first very long-run tests of GS (also called comprehensive investment or adjusted net savings) as a forward-looking indicator of future well-being. We assemble data for British capital back to 1765, and construct several net investment measures which are used as indicators of two alternative measures of future well-being: consumption per capita and real wages. An allowance for a “value of time” due to exogenous technological progress is included in some GS measures, and we demonstrate the importance of this measure and the choice of discount rate over the very long-run. On the whole, our results do not reject the postulated relationship between GS and future well-being, and show GS can be a forward looking indicator of future well-being for periods of up to 100 years.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Environmental Economics and Management - Volume 67, Issue 2, March 2014, Pages 171–188
نویسندگان
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