Year: 2012
Type: article
Abstract: Resource and environmental economists have argued that the conventional GDP is not an adequate indicator to reflect if an economy is growing sustainably, as it does not consider the changes in national capital and pollution impacts. The World Bank Genuine Savings indicator, though in the weak sustainability form, provides an alternative measure. This paper calculates the Genuine Savings for Malaysia from 1990–2008. While the results show that the Genuine Savings for Malaysia has been positive, its ratio to GDP declines markedly following the economic crisis of 1997/98. Comparisons with selected countries, especially South Korea and Indonesia are also made. Policy implications are deliberated at the end of the paper. Keywords: Malaysian genuine savings, sustainability path, macroeconomic sustainability measure.
Authors: Jamal Othman, Roby Falatehan, Yaghoob Jafari
Institution: National University of Malaysia
Language: English
Subfield: Management, Monitoring, Policy and Law
Field: Environmental Science
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W3049240722