Measuring National Income and Growth in Resource-Rich, Income-Poor Countries

In the decade leading to the recent commodity boom, which peaked in 2007-08, several resource-rich, low-income countries displayed high rates of gross domestic product (GDP) growth while social indicators did not improve significantly. It is well known that, in itself, the widely tracked GDP may not be the most relevant summary of aggregate economic performance in all places at all times. This note suggests that for countries with significant exhaustible natural resources and important foreign-investor presence, adjusted net national income (aNNI), can usefully complement GDP to assess economic progress.

Bibliographic Details

Main Authors:	Hamilton, Kirk, Ley, Eduardo
Language:	English
Published:	World Bank, Washington, DC 2010-08
Subjects:	ACCOUNTING, AGRICULTURAL LAND, AGRICULTURE, ASSETS, AVERAGE GROWTH RATES, CAPITAL ACCUMULATION, CAPITAL INVESTMENTS, CAPITAL STOCK, CASH FLOW, COMMODITY, CONSUMPTION EXPENDITURE, DAMAGES, DEBT, DEPRECIATION OF ASSETS, DEVELOPING COUNTRIES, DEVELOPMENT ECONOMICS, DOMESTIC PRODUCT, ECONOMIC DEVELOPMENT, ECONOMIC GROWTH, ECONOMIC PERFORMANCE, ECONOMIC PROGRESS, ECONOMICS RESEARCH, EMPLOYMENT, ENVIRONMENTAL DEGRADATION, FINANCIAL ASSETS, FISCAL POLICIES, FISCAL POLICY, FIXED CAPITAL, FOREIGN ASSETS, FOREIGN INVESTMENT, FOREIGN SAVINGS, GDP, GROSS NATIONAL SAVINGS, GROWTH RATES, HUMAN CAPITAL, INCOME LEVELS, INCOMES, INTANGIBLE, INVESTMENT MANAGEMENT, LOW-INCOME COUNTRIES, MACROECONOMIC POLICIES, MIDDLE-INCOME COUNTRIES, MISMANAGEMENT, NATIONAL INCOME, NATURAL CAPITAL, NATURAL RESOURCE, NATURAL RESOURCES, NET FOREIGN ASSETS, NET SAVINGS, OPERATING EXPENDITURES, PER CAPITA INCOME, POLLUTION, PRODUCTIVITY, PUBLIC INVESTMENT, PUBLIC INVESTMENT PROGRAMS, REAL GDP, RENTS, SAVINGS, SAVINGS RATES, SOCIAL WELFARE, SUSTAINABLE DEVELOPMENT, SUSTAINABLE GROWTH, TAXATION, TECHNOLOGICAL CHANGE, VIRTUOUS CYCLE, VOLATILITY, WAGES, WEALTH, WEALTH CREATION, WORLD DEVELOPMENT INDICATORS,
Online Access:	http://documents.worldbank.org/curated/en/2010/08/12696614/measuring-national-income-growth-resource-rich-income-poor-countries https://hdl.handle.net/10986/10165
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