Improving wealth accounting and global sustainability assessment: assessing wealth benchmark estimates

Koji Tokimatsu () and Rieko Yasuoka
Additional contact information
Koji Tokimatsu: Institute of Science Tokyo (Former Tokyo Institute of Technology)
Rieko Yasuoka: Institute of Science Tokyo (Former Tokyo Institute of Technology)

International Review of Economics, 2025, vol. 72, issue 1, No 7, 60 pages

Abstract: Abstract The current paper first clarifies commonalities and disparities between a 2018 report by the World Bank Group (WBG), the Inclusive Wealth Report (IWR), and Arrow et al.’s 2012 paper. It is worth comparing the measures of wealth components and reported values of the two reports and Arrow et al. 2012, since the WBG 2018 report foregoes using the present value of future consumption and employs different measures of human capital wealth than the IWR 2018 report, and as a result, the two authorities reported different country-level wealth. We clarified what methodologies, parameters, equations, and datasets were used in the reports, and on this basis determined a respective calculation method for each wealth component, or chose one of the multiple possible measures devised by us on the basis of the reports and public databases for the years 2000, 2010, 2014, and 2020. We determined and chose methods on the basis of higher coefficients of determination, or their agreement with reported values, the inclusion of related variables, and their simplicity. The chosen methods were calibrated by comparing their measured values with the values in the reports. The significant differences between the two reports can be duplicated by our assigned or chosen methods.

Keywords: Adjusted net savings (ANS); Comprehensive wealth (CW); Inclusive wealth (IW); Sustainability; Social welfare (search for similar items in EconPapers)
JEL-codes: Q01 Q54 Q56 (search for similar items in EconPapers)
Date: 2025
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s12232-024-00476-5 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:inrvec:v:72:y:2025:i:1:d:10.1007_s12232-024-00476-5

Ordering information: This journal article can be ordered from
http://www.springer. ... cy/journal/12232/PS2

DOI: 10.1007/s12232-024-00476-5

Access Statistics for this article

International Review of Economics is currently edited by Luigino Bruni

More articles in International Review of Economics from Springer, Happiness Economics and Interpersonal Relations (HEIRS)
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().