Whitaker Ideas Forum: Natural capital accounting for Ireland through boom and bust: Genuine Savings 1990-2016

The World Bank computes estimates of Genuine Savings (GS), a leading indicator of sustainable development, for most countries in the world. A well-established literature has called for methodological enhancement. This paper presents augmented estimates of Irish GS throughout a period of unprecedented economic expansion and decline. Our methods are applicable to many other countries. A time-series constructed predominantly from national sources includes the most comprehensive coverage of pollutants in the literature surveyed. We apply a novel method to aid the property rights designation assessment required for transboundary pollutant accounting. In sharp contrast to the World Bank’s estimates, our findings suggest that a modern developed economy can exhibit signs of unsustainability. Furthermore, extended environmental damages drive these results suggesting expanded country specific GS may diverge sharply from the World Bank’s estimates. Surprisingly, we find rapid economic development and rapid declines in environmental damages can occur concurrently on the transition away from an unsustainable path.

This is one of a series of seminars in the Whitaker Ideas Forum. Luke will be representing the Socio-Economic Marine Research Unit cluster.

The Whitaker Ideas Forum is a weekly seminar, running Wednesday’s throughout the semester from 1:00pm-2:00pm in CA110. It provides the opportunity for members of the Institute to showcase their research. The result are presentations that highlight the diversity of the research being undertaken, while allowing for an opportunity to engage in discussions and, sometimes, collaboration with attendees. Below, you will find a list of this semester’s seminars, please click the title for more information on that seminar.