The Genuine Saving Indicator: Estimates at the Subnational Level in Italy

Paola Biasi and Benedetto Rocchi ()

Working Papers - Economics from Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa

Abstract: In this paper we estimate the Genuine Saving (GS) of Italian regions in the period 1996-2005. The GS is a macroeconomic indicator of sustainability able to shed light on the future implications of current welfare levels, jointly considering the management of economic and natural assets. Despite the good performance of Italy as a whole during the considered period, our results show an uneven regional distribution of sustainability burdens, with the Basilicata region on an unsustainable development path, showing decreasing and negative value of GS. This results are mainly due to mismanagement of un-renewable natural resources (oil and gas). Failing this test of “weak†sustainability, the Basilicata region is likely to incur a decline of welfare levels in the future.

Keywords: Natural resources; Genuine Saving; regional sustainability; capital approach. (search for similar items in EconPapers)
JEL-codes: N54 O13 Q32 Q56 R11 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2016
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