This book is about development and measuring development progress. While precise definitions may vary, development is, at heart, a process of building wealth, the produced, natural, human, and institutional capital which is the source of income and wellbeing. A key finding is that it is intangible wealth, human and institutional capital, which dominates the wealth of all countries, rising as a share of the total as countries climb the development ladder. The book is divided into two parts. The first part provides the big picture of changes in wealth by income group and geographic region, with a focus on natural capital because it is especially important for low-income developing countries. The second part presents case studies that illustrate particular aspects of wealth accounting, including accounting for climate change, the role of intangible capital in growth and development, measuring human capital, and the use of wealth accounting to improve transparency and governance in resource-rich economies. The final chapter reports on the implementation of wealth accounting by countries. The appendixes provide the full wealth accounts for individual countries and for aggregations by income group and geographic region.
Details
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Author
Lange, Glenn-Marie Hamilton, Kirk Ruta, Giovanni Chakraborti, Lopa Desai, Deval Edens, Bram Ferreira, Susana Fraumeni, Barbara Jarvis, Michael Kingsmill, William Li, Haizheng
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Document Date
2010/12/13
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Document Type
Publication
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Report Number
58847
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Volume No
1
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Total Volume(s)
1
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Country
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Region
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Disclosure Date
2011/01/20
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Disclosure Status
Disclosed
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Doc Name
The changing wealth of nations : measuring sustainable development in the new millennium
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Keywords
united nations framework convention on climate change;greenhouse gas emission;higher returns to education;social cost of carbon;human capital;economics of climate change;approach to climate change;Management of Natural Resources;nonrenewable natural capital;strategic environmental assessment;wealth of nation;net national income;share of resource;ministries of finance;Natural Resource Management;Rule of Law;growth and development;process of development;per capita basis;per capita term;gross national income;foreign financial assets;types of capital;environment and development;standard of living;gdp growth rate;world market price;atmospheric carbon dioxide;gross national saving;expansion of education;Natural Resource Wealth;accounts for individual;agricultural land value;source income;water resource policy;global public good;crop and livestock;source of income;category of assets;Sustainable Economic Development;total factor productivity;subject to taxation;sustainability of development;net present value;net national saving;nonrenewable natural resource;resource-rich developing country;Oil & Gas;Oil and Gas;amount of land;resource rent;summing up;ecosystem service;resource-rich country;institutional capital;
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Citation
Lange, Glenn-Marie Hamilton, Kirk Ruta, Giovanni Chakraborti, Lopa Desai, Deval Edens, Bram Ferreira, Susana Fraumeni, Barbara Jarvis, Michael Kingsmill, William Li, Haizheng
The changing wealth of nations : measuring sustainable development in the new millennium (English). Environment and development Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/630181468339656734/The-changing-wealth-of-nations-measuring-sustainable-development-in-the-new-millennium