July 4, 2011 wealth of nations (at ifad) gianni ruta
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July 4, 2011 wealth of nations (at ifad) gianni ruta
- 1. The Changing Wealth of Nations Measuring Sustainable Development in the New Millennium Gianni Ruta Environment Department The World Bank
- 5. Where is the wealth of Ghana? Shares of total wealth, 2005 Shares of natural wealth, 2005 Total wealth / capita: $9,500
- 6. Where is the wealth of the UK? Shares of total wealth, 2005 Shares of natural wealth, 2005 Total wealth / capita: $663,000
- 7. Composition of Wealth Shares by country income class, 2005 Intangible wealth —human and social capital—dominates in almost all countries … but Natural capital is especially important in low income countries—averaging 36%, and in some countries more than 50% of wealth
- 11. How did wealth change from 1995 to 2005? Growth in total and per capita wealth by region Globally, wealth grew 34% in total and 17% per capita Change in wealth (%)
- 12. Development & changing composition of wealth Lower-middle income countries: shares of total wealth 1995-2005 Percent of total wealth
- 13. Change in total wealth by type of asset $ billion, 1995-2005
- 15. Wealth Accounting and Valuation of Ecosystem Services: Expanding accounts for Natural Capital
- 20. How we measure development will drive how we do development Thank you! http://data.worldbank.org www.worldbank.org/programs/waves
Hinweis der Redaktion
- “ The Changing Wealth of Nations: Measuring Sustainable Development in the New Millennium” (World Bank, 2011) Comprehensive wealth accounts for Ten years, 1995-2000-2005 for more than 120 countries Manufactured, Natural, Human & Social capital Natural capital includes: energy & mineral stocks, agricultural land, forests, protected areas Changes in wealth—Adjusted Net Saving, calculated annually
- Natural capital is most important in low income countries—more than twice as large as produced capital In middle income countries natural capital and produced capital are roughly equal Intangible wealth dominates in all countries, especially in high income countries
- Work led by my co-author, Kirk Hamilton demonstrate the importance of social capital, especially the rule of law Work led by Barbara Fraumeni and Chinese colleagues for China demonstrate that the economic reforms increased the returns to HC far beyond the increase in educational attainment.
- The challenge of development is to manage Total volume of assets—how much to save vs. how much to consume Composition of the asset portfolio—how much to invest in different types of capital
- Lower middle income countries – roughly from $1000 to $4000 per capita GDP
- Framework for implementation of WAVES: SEEA System of Environmental and Economic Accounting (SEEA) is a comprehensive accounting framework, like the System of National Accounts, that includes both indicators for evaluation performance as well as detailed statistics for management: asset accounts (physical & monetary); flows of energy, materials, pollution; environmental taxes/subsidies & expenditures; macroeconomic aggregates and indicators Developed under the UN Statistical Commission by national & international statistical agencies over the past 20+ years Statistical standard for some parts of the SEEA by 2012 Accounting for ecosystems is relatively undeveloped in the SEEA, but is a major focus of current and future work
- Implementation & funding of the Partnership Partnership with UNEP, UNDP, UNCEEA, donors, partner countries, NGOS and others Building on initiatives of partners in pilot countries 2 phases: 1-year preparation phase ($750,000), through Dec 2011 Establish the Global Partnership Assemble Policy & Technical Experts Group to develop methodology for ecosystem accounting Feasibility & planning studies for 6 pilot countries 4-5 year implementation phase ($15 million), through 2015 Milestones: 2012: Preliminary report to Rio+20 Summit 2015: Report to the MDG review, proposal regarding environment MDG