NATIONAL WEALTH STRUCTURE OF THE COUNTRIES OF THE WORLD, 2000–2014, AND ECONOMIC DEVELOPMENT

M.M. Guzev, M.V. Ledeneva and A.A. Polkovnikov

Applied Econometrics and International Development, 2020, vol. 20, issue 2, 33-46

Abstract: The article shows the methodological and theoretical bases for the measurement of national wealth, accordingly to the World Bank reports. On the basis of a widening conception and the data of the World Bank the tendencies of changes in the dynamics and structure of national wealth in 91 countries of the world in 2000-2014 are shown. The clusters of the countries of the world with the most similar tendencies are formed with the help of a number of cluster formation methods. Besides we compare indicators of wealth and economic development and we find a high correlation although with a few exceptions.

Keywords: national wealth; assessment methodology; human capital; natural capital; produced capital; structure; algorithm; cluster formation; cluster. (search for similar items in EconPapers)
JEL-codes: J24 O57 P20 Q32 (search for similar items in EconPapers)
Date: 2020
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