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A Sustainable Century?: Genuine Savings in developing and developed countries, 1900-2000
Queen’s University Management School, Queen’s University Belfast.
Umeå University, Faculty of Social Sciences, Department of Geography and Economic History.ORCID iD: 0000-0002-0970-0850
Department of Geography and Sustainable Development, University of St. Andrews.
2016 (English)Report (Refereed)
Abstract [en]

This chapter traces the long-run development of Genuine Savings (GS) using a panel of eleven countries during the twentieth century. This panel covers a number of developed countries (Great Britain, Germany,Switzerland, France, the US, and Australia) as well as a set of resource-abundant countries in Latin America(Argentina, Brazil, Chile, Colombia, and Mexico). These countries represent approximately 50 percentof the world’s output in terms of Gross Domestic Product (GDP) by 1950, and include large economies and small open economies, and resource-rich and resource-scarce countries, thus allowing us to compare their historical experiences. Components of GS considered include physical and human capital as well asresource extraction and pollution damages. Generally, we find evidence of positive GS over the course of the twentieth century, although the two World Wars and the Great Depression left considerable marks. Also, we found striking differences between Latin American and developed countries when Total Factor Productivity(TFP) is included; this could be a signal of natural resource curse or technological gaps unnoticed in previous works

Place, publisher, year, edition, pages
St. Andrews, 2016. , 34 p.
, Environmental Economics Discussion Papers, University of St. Andrews, Department of Geography and Sustainable Development, 2016-15
Keyword [en]
Genuine Savings, Developed countries Latin America, Sustainability
National Category
Economic History
Research subject
Economic History; sustainable development
URN: urn:nbn:se:umu:diva-126450OAI: diva2:1033308
Available from: 2016-10-06 Created: 2016-10-06 Last updated: 2016-10-19

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Ducoing Ruiz, Cristián
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