Gaur-gaurkoak

INARBE organiza este seminario que se celebrará el día 21 de mayo a las 12:00h. en la sala de conferencias del edificio Jerónimo de Ayanz.

Abstract: Using a new database of historical Genuine Savings (GS), this article identifies stylised facts regarding weak long-term sustainability. First, the correlation between savings and future wellbeing; second, the intensive use of resources in the 19th century in comparison with the 20th. Third, the relevance of GS to understand Economic History events measured through GDP growth. GS is derived from theoretical work on wealth accounting and addresses shortcomings in conventional economic development metrics by incorporating broader measures of saving and investment, including human capital (education) and natural resource depletion. As a great part of its value added as an indicator is determined by its ability to be used to predict future well-being, the need to test its predictor capacity is compulsory in a long-term context. This article provides consistent historical estimates of GS since 1850 for 35 countries to test this prediction capacity, generating relevant inputs for the development debate and the economic history discipline.

 Short bio: Eoin is a Professor of Economics at Heriot-Watt University, specialising in economic history. His research explores sustainability indicators, financial crises, sovereign debt, and the long-term trajectory of Irish economic development. He has published extensively on the historical foundations of fiscal and monetary policy in Ireland. Eoin is currently a Fellow at Panmure House and is working on a book titled The Inclusive Wealth of Nations, to mark the 250th anniversary of Adam Smith’s Wealth of Nations.