Using inclusive wealth for policy evaluation: Application to electricity infrastructure planning in oil-exporting countries

Collins, Ross D.; Selin, Noelle E.; Weck, Olivier L. de; Clark, William C.

doi:10.1016/j.ecolecon.2016.11.013

Cited by 32 publications

(23 citation statements)

References 27 publications

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“…Inclusive wealth uses a coherent approach that integrates biophysical and social measurements to indicate sustainability (Fenichel et al, ). In addition, inclusive wealth is theoretically consistent with the determinant of wellbeing in economics that has been applied to retrospective evaluations (Collins, Selin, de Weck, & Clark, ). This approach focuses on the amounts of all types of capital that contribute to wellbeing.…”

Section: Introductionmentioning

confidence: 73%

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Measuring long‐term sustainability with shared socioeconomic pathways using an inclusive wealth framework

Kurniawan

Managi

2018

Sustainable Development

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To understand the trajectory of sustainability, it is important to measure historical and future projections of productive capital that contribute to wellbeing. This study considers a productive base that includes the human, natural and produced capital of 140 countries. We then develop projections for 2014–2100 using the newly developed shared socioeconomic pathways (SSPs) that strive to explain the implications of key socioeconomic variables on long‐term global sustainability. Those SSPs with high investments in broad societal development are associated with the highest growth in inclusive wealth. Poverty alleviation, demographic changes and human capital investments are effective instruments to attain greater wealth as shown in East and Southeast Asia. Furthermore, the SSP that describes a sustainability pathway, which poses the least climate change challenges and substantially reduced reliance on natural resources, is more conducive to increasing wellbeing than the fragmented pathways that result in inequality.

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Section: Introductionmentioning

confidence: 73%

“…In addition, inclusive wealth is theoretically consistent with the determinant of wellbeing in economics that has been applied to retrospective evaluations (Collins, Selin, de Weck, & Clark, 2017). This approach focuses on the amounts of all types of capital that contribute to wellbeing.…”

Section: Introductionmentioning

confidence: 99%

Measuring long‐term sustainability with shared socioeconomic pathways using an inclusive wealth framework

Kurniawan

Managi

2018

Sustainable Development

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“…National policy makers should keep track of not only IW per capita but also specific classes of capital assets. They are also advised to perform social cost-benefit analysis using components of IWI (UNU-IHDP and UNEP 2014; Collins et al 2017).…”

Section: Resultsmentioning

confidence: 99%

Inclusive wealth in the twenty-first century: a summary and further discussion of Inclusive Wealth Report 2018

Yamaguchi

Islam

Managi

2019

Lett Spat Resour Sci

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It is increasingly common to judge the sustainable development of nations by nondeclining social well-being. Determinants of social well-being have been measured and used for sustainability analysis. In particular, inclusive wealth per capita, which comprises produced, human, and natural capital, was reported in the Inclusive Wealth Report in 2012 and 2014. Here, we report the updates of the third edition of the report, which covers 140 countries from 1990 to 2014. In per capita terms, only 60% out of 140 countries show non-declining wealth for the past quarter century. Most countries, both developed and developing, fall into the group of running down natural capital and increasing produced and, to a lesser extent, human capital. We also include fishery stock as part of natural capital, and we find that only a few countries have increased their fishery capital in the studied period. Inclusive wealth has typically grown much less than GDP per capita and does not resemble change in other development indices. Globally aggregated produced and human capital per capita increased 94% and 28%, respectively, while natural capital per capita declined by 34%. In 2014, produced, human, and natural capital account for 24%, 64%, and 11%, respectively, which is similar to the recent findings by the World Bank. In addition, inclusive wealth is approximately 12 times GDP on average, much higher than conventional wealthincome ratios globally, and is at least at par with those ratios in high-income countries under financialization. Keywords Sustainable development • Inclusive wealth • Natural capital • Produced capital • Human capital JEL Classification Q01 • E01 • I15 Electronic supplementary material The online version of this article (

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“…The sustainable resource development levels have been evaluated by assessing the comprehensive utilization of resources and the comprehensive conditions for resource development [24]. The macroeconomic environment is identified as the most basic risk affecting world mineral resource development [25]. Research into the economics associated with rare earth sustainability has generally been focused on three key elements; the price on the market, supply restrictions by China, and the availability of non-Chinese deposits [21].…”

Section: Construction Of a Rare Earth Resource Sustainable Evaluationmentioning

confidence: 99%

Evaluation and Policy Research on the Sustainable Development of China’s Rare Earth Resources

Liang

Yang

et al. 2018

Sustainability

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As rare earth resources are indispensable raw materials for modern society, they have become strategic global reserve resources. Even though China is the world’s largest producer and exporter of rare earth, the industry has low efficiency and severe problems with over-exploitation and environmental pollution; therefore, there needs to be a greater focus on the sustainable exploitation of rare earth resources. This paper establishes an innovative evaluation index system for the sustainable development of China’s rare earth resources from six main aspects; economic development, social progress, environmental protection, technological innovation, rare earth development and utilization, and rare earth protection in which the indicators are assessed using an entropy method. Grey correlation analysis was used to evaluate China’s rare earth sustainable development level from 2006–2016, from which it was found that sustainable development was poor from 2006–2010 and marginally better from 2011–2016. The main factor affecting rare earth sustainable development in China was found to be the lag in the development of environment protection system and rare earth protection system. Policy recommendations for improving China’s rare earth protection, environmental protection, and technological innovation are proposed to guide government regulations and assist rare earth industry personnel.

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Using inclusive wealth for policy evaluation: Application to electricity infrastructure planning in oil-exporting countries

Cited by 32 publications

References 27 publications

Measuring long‐term sustainability with shared socioeconomic pathways using an inclusive wealth framework

Measuring long‐term sustainability with shared socioeconomic pathways using an inclusive wealth framework

Inclusive wealth in the twenty-first century: a summary and further discussion of Inclusive Wealth Report 2018

Evaluation and Policy Research on the Sustainable Development of China’s Rare Earth Resources

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