One of the features of many countries that are endowed with abundant natural resources is that they save less than what is expected, considering the rents obtained from extracting and selling natural resources.
If the countries saved more, they would grow at a sustainable and faster rate. To gain a better understanding of sustainable development, it is useful to examine the concept of genuine saving.
Genuine saving is defined as public and private saving at home and abroad, net of depreciation, plus current spending on education to capture changes in intangible human capital, minus depletion of natural exhaustible and renewable resources, minus damage of stock pollutants (CO2 and particulate matter).
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