Measuring national wealth and changes in wealth is an element of the World Bank’s ongoing effort to watch the long-term economic well-being of nations.
In a recently published book report The Changing Wealth of Nations 2018In the brand new approach, total wealth is calculated by summing estimates of every component of wealth: manufactured capital, natural capital, human capital, and net foreign assets.
The report presents data on the wealth of 141 countries from 1995 to 2014, which is a big and major contribution to the Sustainable Development Goals (SDGs) aimed toward revitalising the worldwide partnership for sustainable development.
In this respect, wealth accounts contribute to (1) policy and institutional coherence by providing a typical and robust analytical framework for assessing sustainable development; and (2) data, monitoring and accountability objectives.
Let’s take a have a look at how the countries of Southeast Asia have developed over time. Putting them within the rankings (based on the entire amount of assets)According to the report, each country developed otherwise.
Comments:
1. Scroll down further to learn the meaning of each Hi that are included within the category of assets included in the entire wealth achieved.
2. Estimates are in 2014 US dollars (in billions, excluding population) per capita at market rates.
3. No data for Brunei and Myanmar.
SINGAPORE
|
Total wealth |
Population |
Capital generated |
Natural capital |
Human capital |
|
775,196 |
5 469 724 |
186 017 |
561 |
466,119 |
MALAYSIA
|
Total wealth |
Population |
Capital generated |
Natural Capital |
Human capital |
|
239 203 |
29 901 997 |
29 989 |
28 657 |
180 729 |
THAILAND
|
Total wealth |
Population |
Capital generated |
Natural capital |
Human capital |
|
62 599 |
67 725 979 |
20 380 |
10 144 |
33 573 |
INDONESIA
|
Total wealth |
Population |
Capital generated |
Natural capital |
Human capital |
|
46 919 |
254,454,778 |
15 299 |
9,443 |
23 701 |
LAOS
|
Total wealth |
Population |
Capital generated |
Natural capital |
Human capital |
|
39 307 |
6 689 300 |
5,279 |
22 590 |
13 762 |
PHILIPPINES
|
Total wealth |
Population |
Capital generated |
Natural capital |
Human capital |
|
30 823 |
99 138 690 |
7860 |
5,644 |
17 790 |
VIETNAM
|
Total wealth |
Population |
Capital generated |
Natural capital |
Human capital |
|
27 368 |
90 728 900 |
5,530 |
9381 |
13 740 |
Indicators:
Total wealth was measured because the sum of every asset category listed below (including net foreign assets). This is a big departure from past estimates, during which total wealth was estimated by (1) assuming that consumption is a return on total wealth after which (2) calculating total wealth based on current sustainable consumption.
Capital produced and concrete land: machinery, buildings, equipment, and residential and nonresidential urban land, measured at market prices. For brevity, the term produced capital is used to mean produced capital and concrete land.
Natural capitall: energy3 (oil, gas, hard and soft coal) and minerals (10 categories), agricultural land (crop land and pasture land), forests (timber and a few non-timber forest products), and guarded areas on land (for brevity, referred to easily as protected areas within the report). Protected areas at sea are usually not currently included. Natural capital is measured because the discounted sum of the worth of rents generated over the useful lifetime of assets.
Human capital: Human capital, broken down by gender and employment status (employed, self-employed). Human capital is measured because the discounted value of an individual’s lifetime earnings
Source :World Bank Report 2018
