Еcological Approach to Assessing the Sustainability of Economic Growth
Journal: Quarterly Scientific Journal "Economic Herald of the Donbas" (Vol.66, No. 4)Publication Date: 2021-12-16
Authors : Abbasova Sh. Orujova T. Orujova M.;
Page : 25-28
Keywords : economic growth; sustainability; adjusted net savings; gross domestic product; gross domestic savings;
Abstract
The article considers various approaches to the assessment of national wealth taking into account the environmental factor, namely, the depletion of natural resources and damage to the environment. It describes the "Adjusted net savings" indicator developed by the world Bank and calculated annually for all countries of the world. A comparative analysis of this indicator was conducted for various countries, including Azerbaijan. The negative sign of this indicator before 2008 shows that economic growth was associated with the depletion of natural resources in our country. But the well-chosen strategy of the governments aimed at achieving independence of the economies of these countries from natural resources, led to a further change in the sign of genuine savings in these countries to a positive one, which indicates their sustainable development, accompanied by an increase in welfare.
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