Factors for the Formation of Adjusted Net Savings in the People’s Republic of China
Abstract
The study investigates the fundamental issues concerning Adjusted Net Savings (ANS) as one of the most objective indicators of modern country development assessment. Due to its complex structural nature, this indicator includes several groups of factors influencing the changing environment of countries or regions.
The purpose of this study was to identify the impact of factors on adjusted net savings as a major indicator of welfare and wealth in modern turbulent environment and to look for new measures of economic development in any country. The use of the adjusted net savings indicator is the result of long reflections, studies, comparisons of World Bank scientists, the European Commission, who acknowledge the loss of universality and diminished relevance of the GDP indicator and support the concept of sustainable development, which implies economic prosperity, closing the gap between the levels of income in different strata of the population, increasing environmental literacy and integrity, reducing energy dependency. It was found that each country had its own features and conditions for the formation of savings, which were selected with consideration of the impact on GDP and on adjusted net savings. But at this stage of the study, we have selected only the main factors that confirm the importance of considering the environmental and social component of sustainable development of the country.As a result, the following key factors in generating adjusted net savings are highlighted: education costs, energy depletion, and natural resource depletion, which is linked to sustainable development for future generations.
References
[2] Belabed, C., Theobald, T., and van Treeck, T. 2018. Income distribution and current account imbalances. Cambridge Journal of Economics, 42(1): 47-94.
[3] Buckley, P.J., and Casson, M. 2010. The internalisation theory of the multinational enterprise: A review of the progress of a research agenda after 30 years. Macmillan, 40(9): 1563-1580.
[4] Buckley, P.J., and Casson, M. 2019. The internationalization theory of the multinational enterprise: Past, present and future. British Journal of Management. Available at: https://onlinelibrary.wiley.com/ doi/abs/10.1111/1467-8551.12344.
[5] Cieslik, A. 2017. Determinants of MNE activity in Poland: the case of firms from EU-15. Entrepreneurial Business and Economics Review, 5(1): 151-167.
[6] Dorożyński, T., Świerkocki, J., and Urbaniak, W. 2018. Determinants of investment attractiveness of Polish special economic zones. Entrepreneurial Business and Economics Review, 6(4): 161-180.
[7] Hamilton, K., and Clemens, M. 1999. Genuine savings rates in developing countries. World Bank Economic Review,13(2): 333-356.
[8] Lim, S., et al. 2018. Measuring human capital: A systematic analysis of 195 countries and territories, 1990-2016. Lancet, 392(24): 1217-1234.
[9] Lukianenko, D., and Poruchnik, A. 2008. Global Economy XXI Century: Human Dimension. KNEU.
[10] Mariz-Pérez, R., Teijeiro-Alvarez, M.M., and Garcìa-Alvarez, M.T. 2012. The relevance of human capital as a driver for innovation. Cuadernos De Economía, 35: 68-76.
[11] Mozgovyi, O., and Stukalo, N. 2008. Global financial crisis: Theory and practice of overcoming the consequences of financial shocks. Market of Securities of Ukraine, 11-12: 31-36.
[12] Pardi, F., Salleh, A.M., and Nawi, A.S. 2015. A conceptual framework on adjusted net saving rate as the indicator for measuring sustainable development in Malaysia. Journal of Technology Management and Business, 2(2): 1-10.
[13] Pearce, D., and Atkinson, G. 1993. Capital theory and the measurement of sustainable development: an indicator of weak sustainability. Ecological Economics, 8: 103-108.
[14] Rudenko-Sudarieva, L. 2016. Global regulation of international investment processes in the turbulent financial environment. Journal L'Association 1901 SEPIKE, 12: 161-166.
[15] Rudenko-Sudarieva, L., and Gurtov, R. 2010. The processes of globalization and transnationalization: a theoretical and methodological approach to integrated assessment. Redaktsiya.
[16] Rudenko-Sudarieva, L., and Krysiuk, R. 2015. Modern factors in the development of international investment. The Practical Science Edition ‘Independent Auditor’, 14(4): 27-36.
[17] Stiglitz, J., Sen, A., and Fitoussi, J. 2009. The Measurement of Economic Performance and Social Progress Revisited. IEP.
[18] Talberth, J. 2012. Contribution to beyond GDP virtual indicator expo. Available at: http://www.beyond-gdp.eu
[19] Tarabasz, A., Selakovic, M., and Abraham, Ch. 2018. The classroom of the future: disrupting the concept of contemporary business education. Entrepreneurial Business and Economics Review, 6(4): 231-245.
[20] Bloomberg Misery Index. 2019. Available at: https://www.bloomberg.com/news/articles/2019-04-17/the-world-s-most-miserable-economy-has-seven-figure-inflation
[21] Data base of World Bank. 2019. Available at: http://data.worldbank.org
[22] European Commission. 2019. Available at: https://ec.europa.eu/info/index_en
[23] Legatum Prosperity Index. 2019. Available at: https://www.prosperity.com/
[24] National Bureau of Statistics of China. Available at: 2020. http://www.stats.gov.cn/english/
[25] Report of World Bank. 2018. Available at: http://web.worldbank.org
[26] Reports from the Government of the Hong Kong Special Administrative Region. 2017. Available at: https://www.aud.gov.hk/pdf_e/2017eAccounts.pdf
[27] World development indicators 2007: Manual for calculating adjusted net savings, environment department. 2007. World Bank.
[28] World Economic Forum. 2020.Shaping the Future of Digital Economy and New Value Creation.Available at: https://www.weforum.org/platforms/shaping-the-future-of-digital-economy-and-new-value-creation
[29] World Investment Report. 2017. Available at: https://unctad.org/en/PublicationsLibrary/wir2017_en.pdf
[30] World Investment Report. 2018. Available at: https://unctad.org/en/PublicationsLibrary/wir2018_en.pdf
The Copyright Transfer Form to ASERS Publishing (The Publisher)
This form refers to the manuscript, which an author(s) was accepted for publication and was signed by all the authors.
The undersigned Author(s) of the above-mentioned Paper here transfer any and all copyright-rights in and to The Paper to The Publisher. The Author(s) warrants that The Paper is based on their original work and that the undersigned has the power and authority to make and execute this assignment. It is the author's responsibility to obtain written permission to quote material that has been previously published in any form. The Publisher recognizes the retained rights noted below and grants to the above authors and employers for whom the work performed royalty-free permission to reuse their materials below. Authors may reuse all or portions of the above Paper in other works, excepting the publication of the paper in the same form. Authors may reproduce or authorize others to reproduce the above Paper for the Author's personal use or for internal company use, provided that the source and The Publisher copyright notice are mentioned, that the copies are not used in any way that implies The Publisher endorsement of a product or service of an employer, and that the copies are not offered for sale as such. Authors are permitted to grant third party requests for reprinting, republishing or other types of reuse. The Authors may make limited distribution of all or portions of the above Paper prior to publication if they inform The Publisher of the nature and extent of such limited distribution prior there to. Authors retain all proprietary rights in any process, procedure, or article of manufacture described in The Paper. This agreement becomes null and void if and only if the above paper is not accepted and published by The Publisher, or is with drawn by the author(s) before acceptance by the Publisher.