The Changing Wealth of Nations
AI智能总结Revisiting the Measurement of Comprehensive Wealth
Acknowledgments
The report was developed by the World Bank’s Environment Global Department under the guidance of Juergen Voegele, Vice President for the Planet, Valerie Hickey, Director of the Global Department for the Environment, and Richard Damania, Chief Economist for the Planet Vertical. Key contributors include Stefanie Onder, Diego Herrera, and Grzegorz Peszko, with core team members Hyungju Kim, Robert Marks, Alexis Rivera, Catherine Van Rompaey, Matias Piaggio, and Isabel Saldarriaga Arango.
Preface
The report aims to revisit the measurement of comprehensive wealth, with a focus on sustainability. It acknowledges Kirk Hamilton's pioneering work and is dedicated to his memory.
Executive Summary
The report emphasizes the importance of measuring comprehensive wealth as an indicator of economic sustainability. It outlines the methodology used to measure comprehensive wealth, covering nonrenewable wealth, hydroelectric resources, forests and agricultural lands, blue natural capital, and human capital wealth.
Introduction
The report highlights the need to track wealth to monitor economic progress sustainably. It discusses how the World Bank measures comprehensive wealth and presents global and regional trends from 1995 to 2020, emphasizing the role of limited substitutability in measuring sustainability.
Measuring Components of Comprehensive Wealth
- Nonrenewable Wealth of Nations: The report details the valuation of nonrenewable resources.
- Valuation of Hydroelectric Resources: It provides insights into the economic value of hydroelectric resources.
- Forests and Agricultural Lands: The assessment covers the economic value and management of these resources.
- Blue Natural Capital: This section focuses on marine fish stocks, aquaculture, and mangrove coastal protection services.
- Human Capital Wealth: The report examines global trends in human capital wealth.
Conclusions
The report concludes by summarizing the key findings and the importance of comprehensive wealth measurement in understanding economic sustainability.
Detailed Content Breakdown
Chapter 1: Wealth as an Indicator of Sustainability
- Prepared by: Eli P. Fenichel and Stefanie Onder, with contributions from Catherine Van Rompaey.
- Key Insights: Discusses the role of wealth in measuring economic sustainability.
Chapter 2: How the World Bank Measures Comprehensive Wealth
- Prepared by: Stefanie Onder and Robert Smith.
- Key Insights: Outlines the methodology used by the World Bank to measure comprehensive wealth.
Chapter 3: Global and Regional Trends in Wealth, 1995—2020
- Prepared by: Alexis Rivera and Stefanie Onder.
- Key Insights: Presents trends in comprehensive wealth globally and regionally from 1995 to 2020.
Chapter 4: The Role of Limited Substitutability for Measuring Sustainability with CWON
- Prepared by: Various contributors, including Francois Cohen, Richard Damania, Moritz Drupp, and others.
- Key Insights: Discusses the role of limited substitutability in measuring sustainability.
Chapter 5: The Nonrenewable Wealth of Nations
- Prepared by: Robert Marks.
- Key Insights: Provides detailed valuation of nonrenewable resources, including special contributions from Grzegorz Peszko and Hyungju Kim.
Methodological Review
- Led by: Robert Smith, with contributions from various experts.
- Key Insights: Ensures the methodology follows international standards and guidelines from the System of National Accounts (SNA) and the System of Environmental-Economic Accounting (SEEA).
Contributions and Collaborations
- Lead Authors and Collaborators: Contributions from various lead authors and collaborators, including Catherine Van Rompaey, Isabel Saldarriaga Arango, and others.
Technical Guidance and Advice
- Provided by: Experts from the International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), and other institutions.
Conclusion
The report underscores the importance of comprehensive wealth measurement in understanding economic sustainability and provides a comprehensive framework for future research and policy-making.
