Socio-Economic Factors Determining the Genuine Savings

Aleksandr L. Pastukhov, Sergey Yu Solodovnikov and Yulia V. Meleshko
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Aleksandr L. Pastukhov: St. Petersburg University of Management Technologies and Economics
Sergey Yu Solodovnikov: Belarusian National Technical University
Yulia V. Meleshko: Belarusian National Technical University

A chapter in Challenges and Solutions in the Digital Economy and Finance, 2022, pp 233-242 from Springer

Abstract: Abstract The article is devoted to theoretical and methodological problems of economic growth accounting based on the genuine savings. Given the historical nature of the concept of sustainable development, its dialectic and internal social inconsistency in modern conditions, the essence of this concept is to develop socio-economic mechanisms for managing socio-natural systems at the regional, national and global levels in order to ensure sustainable growth in the welfare of the population with minimal damage to the environment and health (physical and social) of a person. To accurately assess the results of economic activity over a relatively long period, it is necessary to use methodological support that allows taking into account all possible costs (economic, environmental and social). To do this, it is necessary to supplement the existing system of economic efficiency indicators with the index of genuine savings. At the same time, the application of this index in practice is difficult due to the lack of a unified approach to its calculation. In order to develop the methodology for calculating the index of genuine savings, the authors identified the socio-economic factors that determine the growth of genuine savings. This allows advancing in the field of accounting the sustainability of economic development by improving methodological tools for assessing the actual result of economic activity in a given territory, taking into account all environmental resources.

Keywords: Sustainable development; Economic growth; Environmental costs; Economic costs; Social costs; Economic growth accounting; Index of genuine savings (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-14410-3_24

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DOI: 10.1007/978-3-031-14410-3_24

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