The Changing Wealth of Nations
The first UKNEE seminar of 2011 took place on Wednesday, 16th February London School of Economics, Clements House, Room D502, Aldwych.
The guest speaker was Kirk Hamilton, a lead economist in the Development Research Group at the World Bank.
He presented on his new book with the World Bank whose thesis is “How we measure development will drive how we do development”. The book looks at measuring the change in comprehensive wealth for over 100 countries from 1995 to 2005. The study finds that in 2005 natural capital (forests, farmland, minerals and energy) constituted 20-35% of the total wealth of developing countries, exceeding the share of produced capital in low income countries. Intangible wealth, an amalgam of human and institutional capital, is by far the largest share of total wealth in virtually all countries, and growth in intangible assets over the decade accounted for nearly 100% of the increase in wealth in Sub-Saharan Africa and Eastern Europe and Central Asia. Trends in wealth creation were particularly strong in East Asia and South Asia, offset by disappointing trends in the extractive economies of Africa and Central Asia. New analysis highlights the role of intangible wealth in development and the value of accumulated stocks of carbon dioxide emitted by countries and regions.
Kirk Hamilton is a lead economist in the Development Research Group at the World Bank, a co-author of "The Changing Wealth of Nations" (2011), "World Development Report 2010: Development and Climate Change," and the principal author of "Where is the Wealth of Nations?" (2006). Prior to joining the World Bank, Dr. Hamilton was a senior research fellow at the UK Centre for Social and Economic Research on the Global Environment, and Deputy Director of National Accounts for the government of Canada, where he started Canada's work on comprehensive wealth measurement. He has a PhD in economics from University College London.
You can find out more and download the book from the World Bank website, and download the presentation below.
Changing Wealth of Nations
