Genuine Savings and Sustainability

Abstract

Genuine Savings has emerged as the leading economic indicator of sustainable economic development at the country level. It derives from the literatures on weak sustainability, wealth accounting and national income accounting. We discuss the theoretical underpinnings of GS, focusing on the relationship between changes in a nation's extended capital stock and the future path of consumption. The indicator has entered widespread use propelled by the World Bank's publications, despite its varying performance as a predictor for future consumption. Notwithstanding the extensive body of literature reviewed, promising future research avenues are identified.

Accounting for Sustainable Development over the Long-Run: Lessons from Germany

“…This paper draws on a well‐established theoretical literature – see Hanley et al . () for an extensive review…”

“…Ideally, we would have discount rates for every single year, and for every year we should have non‐constant discount rate pertaining to different planning horizons (see Gollier, for a thorough discussion). However, due to the lack of reliable and meaningful discount rate for Germany over the long‐run we decided to follow the lead of pioneer studies (see Greasley et al ., ; Hanley et al ., , ).…”

Sustainable Development in Sparsely Populated Territories: Case of the Russian Arctic and Far East

“…In this article, we have investigated the practicalities of sustainable development in sparsely populated territories (SPTs), highlighting the characteristic features of socioeconomic spatial systems with low population densities. We have conceptualized the sustainable development of SPTs in the Russian Arctic and the Far East based on the theories of center-peripheral development [5][6][7][8], natural capital management [9][10][11][12], and the broadly discussed Sustainable Development (SD) concept [13][14][15].…”

Female parliamentarism and genuine savings: A cross‐country test

“…Thus, the aim of this study is to contribute to closing the gap that exists in the empirical literature by examining the effect of female political representation on genuine savings, a proxy for sustainable development (Hanley, Dupuy, & McLaughlin, ). As suggested by York and Bell ( p. 50), “there is a clear association between women's empowerment and a number of quality‐of‐life outcomes, including those connected to health, reproduction, education, and the environment, which are manifested at various levels of society.” Indeed, theories on female political empowerment offer several channels through which changes in female representation in parliament may be linked to genuine savings.…”