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

Author

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  • Paola Biasi
  • Benedetto Rocchi

    (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.

Suggested Citation

  • Paola Biasi & Benedetto Rocchi, 2016. "The Genuine Saving Indicator: Estimates at the Subnational Level in Italy," Working Papers - Economics wp2016_02.rdf, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa.
    • Handle: RePEc:frz:wpaper:wp2016_02.rdf
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    Keywords

    Natural resources; Genuine Saving; regional sustainability; capital approach.;
    All these keywords.

    JEL classification:

    • N54 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: 1913-
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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