Kirk Hamilton, a lead economist at the World Bank, and a co-author of "The Changing Wealth of Nations" is visiting School of Business, Economics and Law, University of Gothenburg

This is an open seminar!. Welcome!

Abstract:
"How we measure development will drive how we do development." This is the thesis of a new book by the World Bank measuring the change in comprehensive wealth for over 100 countries from 1995 to 2005. The study finds that in 2005 natural capital (forests, farmland, minerals and energy) constituted 20-35% of the total wealth of developing countries, exceeding the share of produced capital in low income countries. Intangible wealth, an amalgam of human and institutional capital, is by far the largest share of total wealth in virtually all countries, and growth in intangible assets over the decade accounted for nearly 100% of the increase in wealth in Sub-Saharan Africa and Eastern Europe and Central Asia. Trends in wealth creation were particularly strong in East Asia and South Asia, offset by disappointing trends in the extractive economies of Africa and Central Asia. New analysis highlights the role of intangible wealth in development and the value of accumulated stocks of carbon dioxide emitted by countries and regions.

Kirk Hamilton is a lead economist in the Development Research Group at the World Bank, a co-author of "The Changing Wealth of Nations" (2011), "World Development Report 2010: Development and Climate Change," and the principal author of "Where is the Wealth of Nations?" (2006). Prior to joining the World Bank, Dr. Hamilton was a senior research fellow at the UK Centre for Social and Economic Research on the Global Environment, and Deputy Director of National Accounts for the government of Canada, where he started Canada's work on comprehensive wealth measurement. He has a PhD in economics from University College London.