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Total Wealth, Population, and Per Capita Wealth in 1995, 2000, and 2005
The following table shows estimates of total wealth and wealth per capita by economy for 1995, 2000, and 2005. Estimates are in 2005 U.S. dollars. The data in this table are summarized by grouping economies by geographic region and income group. The data in table B.2, summarized in chapters 1 and 2, are for the set of countries for which wealth accounts are available from 1995 to 2005.
Wealth Estimates in 2005 The following table shows estimates of total wealth and its subcomponents by economy for the year 2005. Estimates are in 2005 U.S. dollars per capita. The data in this table are summarized by grouping economies by geographic region and income category.
Calculating Adjusted Net Saving as a Percentage of Gross National Income, 2008 The following table shows the national accounting flows used to estimate adjusted net saving by economy for the year 2008. Adjusted net saving is equal to gross savings minus consumption of fixed capital, plus education expenditure, minus energy depletion, mineral depletion, net forest depletion, carbon dioxide damages, and particulate matter (PM)damages. Estimates are expressed as a percentage of GNI. Refer to World Development Indicators 2010 for the calculation of adjusted net saving by geographic region and income category.
Effect of Population Growth on Savings and Changes in Wealth Per Capita, 2005 The following table shows how population growth affects measures of savings and changes in wealth per capita. The first column shows GNI per capita. This is used just for reference. The second column shows the rate of population growth. The third and fourth columns show two alternative measures of capital accumulation that take into account population: adjusted net saving per capita and change in wealth per capita. The difference between the two columns is driven by the “Malthusian term” referred to in chapter 2. The fifth column shows how much extra savings (as a percentage of GNI) would be needed to obtain a zero change in wealth per capita. Data are for 2005.
198 THE CHANGING WEALTH OF NATIONS
The following table shows the contribution of the change in the value of different assets to changes in total wealth between 1995 and 2005 (for Europe and Central Asia countries the period of analysis is 2000–05). For natural assets, the table also shows the relative contribution of changes in quantities, prices, and depletion time. All contributions are expressed as a percentage of the change in total wealth, shown in the third column of the table.
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“This volume makes a convincing case that, in economic development as in other human pursuits, you get what you measure. It presents the first-ever direct estimates of changes in comprehensive national wealth, which can help identify policies for achieving sustained improvements in human well-being. Though topical, with coverage of such issues as the contribution of human capital to China’s explosive economic growth, greenhouse gas accounting, and the role of governance in avoiding a resource curse, it will become more valuable with time as researchers explore the landmark data it has painstakingly compiled.” Jeffrey Vincent Clarence F. Korstian Professor of Forest Economics and Management Nicholas School, Division of Environmental Sciences and Policy Duke University “The World Bank has conducted path-breaking research on wealth and sustainability: its Where Is the Wealth of Nations? Measuring Capital for the 21st Century was a revelation and an inspiration. Now they have extended and updated this work. If you are interested in national wealth, sustainability or even economic development in general, you MUST read this book.” Geoffrey Heal Garrett Professor of Public Policy & Corporate Responsibility Columbia Business School Columbia University