The inclusive wealth index. A critical appraisal

Roman, Philippe; Thiry, Géraldine

doi:10.1016/j.ecolecon.2015.12.008

Cited by 28 publications

(11 citation statements)

References 34 publications

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“…In addition, Kurniawan and Managi (2017) use the DEA model to estimate the entire productivity change, considering inclusive wealth (human, produced, and natural capitals), GDP, and carbon damage (using UNU-IHDP and UNEP (2014)). The present study notes that the framework in Arrow et al (2012Arrow et al ( , 2013 is popular but under debate; for example, Roman and Thiry (2016) raise certain limitations of the framework, in terms of its theoretical assumptions.…”

Section: Measuring Knowledge At the Macro Levelmentioning

confidence: 75%

Shadow price of patent stock as knowledge stock: Time and country heterogeneity

Yagi

Managi

2018

Economic Analysis and Policy

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This study compares the shadow price (marginal cost) and shadow value (total cost) of patent stock (as knowledge stock) in each of 92 countries between 1992 and 2010. Two specifications are considered in the data envelopment analysis approach. One specification considers population, capital, patent stock, energy use (four inputs), greenhouse gas (undesirable output), and gross domestic product (desirable output). The other uses human capital and natural capital instead of population and energy use. Under these two specifications, respectively, the shadow price of the patent stock (on weighted average) for the whole period is −0.106 and −0.054 million US dollars per patent in the entire sample.Similarly, the shadow value of the patent stock (by the ratio of gross domestic product) in the entire sample is −5.8% and −2.9%, respectively. As the standing position of patent stock, the patent stock is less valuable than human capital and (produced) capital but more valuable than population, energy use, and natural capital. The patent stock also is likely to be valuable in developing countries. In addition, the shadow value of the patent stock is relatively high in certain large countries and nearly flat in most of the countries.

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Section: Measuring Knowledge At the Macro Levelmentioning

confidence: 75%

Shadow price of patent stock as knowledge stock: Time and country heterogeneity

Yagi

Managi

2018

Economic Analysis and Policy

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“…This is the case for a significant minority of beyond GDP indicators, such as the Index of Sustainable Economic Welfare (Cobb and Daly, 1989), World Bank's Adjusted Net Savings (Bolt et al, 2002) or UNEP's Inclusive Wealth Index (Managi and Kumar, 2018). However, monetisation is a subject of debate, due to questionable theoretical or technical assumptions (Thiry, 2014; Roman and Thiry, 2016). One main critique is that single monetary numeraire might overshadow a degradation of social or environmental capital when it is balanced with an increase of financial capital (which is called a 'weak' vision of sustainability) (Dietz & Neumayer, 2003).…”

Section: Beyond Gdp Indicatorsmentioning

confidence: 99%

How to Articulate Beyond GDP and Businesses’ Social and Environmental Indicators?

Malay

2021

Soc Indic Res

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“…Furthermore, the decline of NC stops in 2045, and NC per capita then improves in line with population growth. However, these findings should be carefully interpreted, as the criticality and resilience of NC are not accounted for, and it is impossible to restore primary rainforests once destroyed [59]. First, the NCC is located in one of the largest tropical rainforests in the world (after the Amazon and Congo rainforests).…”

Section: Nc and Nc Per Capitamentioning

confidence: 99%

“…Hence, it does not evaluate the impact of relocation outside the system. Although IW includes NC as an integrated index, it is still challenging to account for the criticality and resilience of NC [59]. With regard to natural disaster risk, it has been estimated how economic scale plays a role in resilience, but not economic structure.…”

Section: Conclusion and Recommendationmentioning

confidence: 99%

Sustainability Prediction Model for Capital City Relocation in Indonesia Based on Inclusive Wealth and System Dynamics

Shimamura

Mizunoya

2020

Sustainability

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Based on inclusive wealth (IW), this paper evaluates the impact and sustainability of the Indonesian government’s decision to relocate the capital city from Jakarta to East Kalimantan in terms of economic, human, and environmental aspects. This paper develops an integrated prediction simulation model based on IW and system dynamics and sets three scenarios, depending on the expected population recovery in Jakarta and the increased immigration into the new capital city (NCC) from the nearby areas after the public sector relocates. The most reliable scenario projects benefit of USD 169 billion in IW in 2050, equivalent to 2.41% of the expected cumulative real gross domestic product (GDP) growth in Indonesia from 2021 to 2050. Regarding the sustainability of the relocation, the current investment plans are not sustainable, largely because of the negative impact on human capital, comprising the education and health capital caused by the income gap between Jakarta and the NCC, and due to depreciation of produced capital. This study makes a significant contribution to the integrated evaluation of capital city relocations for Indonesia and beyond, because no previous study of such relocations combines produced, human, and natural capital. This is the first policy evaluation to include the impact of migration on IW, which plays an important role in IW literature, because population is a key model factor.

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The inclusive wealth index. A critical appraisal

Cited by 28 publications

References 34 publications

Shadow price of patent stock as knowledge stock: Time and country heterogeneity

Shadow price of patent stock as knowledge stock: Time and country heterogeneity

How to Articulate Beyond GDP and Businesses’ Social and Environmental Indicators?

Sustainability Prediction Model for Capital City Relocation in Indonesia Based on Inclusive Wealth and System Dynamics

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