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Research Question: The paper examines the impact of specific Hofstede's dimensions of national culture on entrepreneurial culture, depending on the wealth of the national economy. Motivation: Based on the results of some previous research focused on the relationship between national culture and various indicators associated with entrepreneurship (Hayton, George & Zahra, 2002; Pinillos & Reyes, 2011; Zhao, Li & Rauch, 2012; Hayton & Cacciotti, 2013), the paper analyses the impact of national culture on entrepreneurial culture, as a category closely related to entrepreneurship. The identification of the national culture's dimensions contributing to the affirmation of entrepreneurial culture, provides an insight into the entrepreneurial potential of a particular national economy. Idea: The main idea of the paper is to examine whether selected Hofstede's dimensions of national culture (power distance - PD, uncertainty avoidance - UA, individualism - IDV) affect entrepreneurial culture (EC) in a manner identical to that affecting the other indicators of entrepreneurship. The mentioned relationship is not examined as unmediated, but in the context of the effect that national wealth (measured as Gross National Income per capita - GNI) has on it. Data: The survey covered a total of 108 countries for which the data on the values of three selected dimensions of national culture, the index of entrepreneurial culture and the Gross National Income per capita are available. Tools: In order to examine the effect of three selected Hofstede's dimensions of national culture on entrepreneurial culture, correlation and standard multiple regression analyses were conducted. For data processing, statistical software SPSS (version 22.0) was used. Findings: The obtained results of the research show that in national economies with higher levels of IDV and lower levels of UA, higher scores of the EC index are manifested, regardless of the national wealth. On the other hand, the impact of PD on EC is determined by the level of a particular economy's wealth. In high-income economies (HIE), the index of EC is higher if PD is lower. In low- and middle-income economies (LIE), higher values of EC index are manifested if PD is higher. Contribution: The paper expands the knowledge and research base on entrepreneurial culture and the influence that national culture has on it. [ABSTRACT FROM AUTHOR]

We explore to what extent previously observed pan-cultural association between dimensions of self-construal and personal life satisfaction (PLS) may be moderated by three national-contextual variables: national wealth, economic inequality, and religious heritage. The results showed that Self-reliance (vs. dependence on others) predicted PLS positively in poorer countries but negatively in richer countries. Connectedness to others (vs. self-containment) predicted PLS more strongly in Protestant-heritage countries. Self-expression (vs. harmony) predicted PLS more weakly (and non-significantly) in Muslim-heritage countries. In contrast, previously reported associations of self-direction (vs. reception-to-influence), consistency (vs. variability), and decontextualized (vs. contextualized) self-understanding with personal life satisfaction were not significantly moderated by these aspects of societal context. These results show the importance of considering the impact of national religious and economic context. [ABSTRACT FROM AUTHOR]

We predicted that the relationship between helping strangers and life satisfaction would depend partially on the wealth of the country in which one lives. We argue that wealthy societies provide a wide range of welfare provisions for assisting their citizens. By contrast, people living in poorer countries with associated lower individualism, lower generalised trust, and higher religiosity have fewer financial and institutional supports for their daily welfare. They thus receive greater personal and interpersonal rewards for helping strangers in their societies and experience greater life satisfaction. Using a 137‐country sample, we found that the relationship between helping strangers and life satisfaction was weaker in wealthier nations and in nations with more individualistic, more trusting, but less religious citizens. When all four moderators were used, only trust and religiosity remained significant moderators. In a supplementary mediated moderation model, we also found that trust and religiosity mediated the effect of national wealth on the relationship between kindness and life satisfaction. We conclude that the relationship between kindness and life satisfaction depends on various aspects of national culture that may reduce or increase people's dependence in their daily lives on the help of others as opposed to dependence on welfare institutions. [ABSTRACT FROM AUTHOR]

Research Question: The paper examines the impact of specific Hofstede’s dimensions of national culture on entrepreneurial culture, depending on the wealth of the national economy. Motivation: Based on the results of some previous research focused on the relationship between national culture and various indicators associated with entrepreneurship (Hayton, George & Zahra, 2002; Pinillos & Reyes, 2011; Zhao, Li & Rauch, 2012; Hayton & Cacciotti, 2013), the paper analyses the impact of national culture on entrepreneurial culture, as a category closely related to entrepreneurship. The identification of the national culture's dimensions contributing to the affirmation of entrepreneurial culture, provides an insight into the entrepreneurial potential of a particular national economy. Idea: The main idea of the paper is to examine whether selected Hofstede’s dimensions of national culture (power distance - PD, uncertainty avoidance – UA, individualism – IDV) affect entrepreneurial culture (EC) in a manner identical to that affecting the other indicators of entrepreneurship. The mentioned relationship is not examined as unmediated, but in the context of the effect that national wealth (measured as Gross National Income per capita - GNI) has on it. Data: The survey covered a total of 108 countries for which the data on the values of three selected dimensions of national culture, the index of entrepreneurial culture and the Gross National Income per capita are available. Tools: In order to examine the effect of three selected Hofstede’s dimensions of national culture on entrepreneurial culture, correlation and standard multiple regression analyses were conducted. For data processing, statistical software SPSS (version 22.0) was used. Findings: The obtained results of the research show that in national economies with higher levels of IDV and lower levels of UA, higher scores of the EC index are manifested, regardless of the national wealth. On the other hand, the impact of PD on EC is determined by the level of a particular economy's wealth. In high-income economies (HIE), the index of EC is higher if PD is lower. In low- and middle-income economies (LIE), higher values of EC index are manifested if PD is higher. Contribution: The paper expands the knowledge and research base on entrepreneurial culture and the influence that national culture has on it.

An enormous amount of time and energy has been spent assessing the extent of transformation of ownership of the South African private sector. To date, the exercise has not moved much beyond squabbling over numbers. In doing so, the debate has ignored an estimated two thirds of the private sector. Business and government have talked past each other about the same set of regulatory compliance targets -- the former focused on arguments for maintaining or reducing the targets; the latter on reasons to extend them. One point of consensus is that in the 25 years since South Africa achieved democracy, the pace and extent of transformation of private sector ownership has been wholly inadequate. This paper seeks to examine how we should be thinking about listed equity, which has had more focus as a result of clearer metrics being available; the transformation of unlisted business sector; the impact on private sector ownership of government's range of goals since 1994; and proposed policy amendments intended to develop a view on equity ownership in South Africa shared by government, business, organised labour and other key stakeholders. [ABSTRACT FROM AUTHOR]

Copyright of Zeszyty Naukowe Politechniki Poznanskiej. Organizacja & Zarzadzanie is the property of Poznan University of Technology and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The relationship between culture and corruption has been the focus of various studies, producing inconsistent results. We suggest that these inconsistencies might be due to the conceptualization and measurement of culture. Drawing on the possible value/fact dichotomy discussed in ethical philosophy, we introduce the construct of cultural discrepancy--the difference between cultural values ("ought") and practices ("is")--as a predictor of pervasive (i.e., fully institutionalized and predictable) and arbitrary (i.e., uncertain and relatively unorganized) corruption. Examining the relationship between the discrepancies observed in the GLOBE cultural dimensions and the Corruption Perception Index shows that in-group collectivism discrepancy is negatively related to pervasive corruption; future orientation discrepancy is positively related to arbitrary corruption. Further, we show that these relationships are contingent on national wealth. The negative relationship for in-group collectivism discrepancy is most pronounced in poor and moderately wealthy countries, and the positive relationship for future orientation discrepancy is most pronounced in rich countries. [ABSTRACT FROM AUTHOR]

The article deals with the problems of the domestic and foreign market of objects of art as objects of national heritage. The structure of the sphere of circulation of art objects is shown, participants and agents of the art values market are described. Particular attention is paid to the activities of world auction houses and galleries. Methodical approaches are specified and methods for estimating the market value of art objects, including objects of painting, are listed. The article illustrates the authors’ attempt to evaluate the cost of the most mystical pictorial canvas in the history of the national museum science “Ivan the Terrible and his son Ivan” by the famous Russian artist I. E. Repin. The picture with a tragic-psychological plot was twice attacked by vandals with an interval of a hundred years and experienced a long-term costly restoration, even with not quite successful attraction of the author of this work.

The study of the category of national wealth is necessary because the wealth of the nation is an important indicator of the economic power and potential of the country. However, today there are no equal views regarding the definition of the essence of national wealth. The aim of the article is to study the concept and structure of national wealth, the methods of its assessment, and most importantly – the ways to increase the national wealth of Ukraine. The main objective of this article is also to highlight the approaches of human capital measures and assessing its importance in the structure of national wealth. The article highlights the modern understanding of the essence and value of the category ‘national wealth’. The evolution of the methodological approaches to assessing national wealth and determining its components is considered. The need to include human capital to the national wealth has been confirmed and substantiated. Bettering human capital benefits individuals and their country and leads to improved sustainability for the future. [ABSTRACT FROM AUTHOR]

The concept of national intellectual capital (NIC) is in its early stage of development. NIC has a complicated and heterogeneous nature with NIC models displaying varying levels of aggregation and structure as well as inconsistent accuracy. As a result, the authors’ standpoints differ according to definition and NIC taxonomy. The aim of this article is to analyze NIC taxonomy and to organize and classify the scattered and often inadvertent intangible generators of the country’s wealth. The results of the research confirm a lack of a generally accepted definitional and taxonomic approach to NIC making a search for an acceptable solution necessary since without it the measurement and comparability of results or even the management and control of the intellectual capital of the country will not be possible. Besides contemplating the existing approaches of NIC division, the authors create their own NIC taxonomy and describe its components by presenting an original understanding of NIC components. This is extremely important because the subject of NIC has not yet been scientifically sufficiently exhausted.

In today’s world there is a rapid process of intellectualization of the economy. With limited natural resources intellectual property is one of the main engines of the modern economy. The capitalization of intellectual property is highly relevant given the increasing significance of results of intellectual activity as the transition to an innovative economy. The capitalization of intellectual property at the regional level has not been studied. In the Republic of Dagestan has accumulated a scientific and technical, creative potential, including the technical, technological, industrial, scientific, creative intellectual activity, which represent a certain value on the domestic and foreign markets. There is a lack in the region, a key element in the formation of an innovative economy - intellectual property market. The authors are needed to proposals involving intellectual property into economic circulation. In conclusion, the authors concluded that the efficient use of the intellectual potential to be an important resource for economic development, will enable the republic to obtain real economic income, which is extremely important in terms of subsidies republican budget.

Measures of personality have been shown to predict employee satisfaction at work and in life, but these findings arise mostly from research conducted in national cultures of Anglo heritage. To broaden the generality of such findings, we explore the relationships between Big Five dimensions of personality and satisfaction with life across representative samples of 13,265 employed persons in 18 nations. We argue that the strength of relationships between these personality dimensions and life satisfaction will be moderated by a national economic culture characterized by wealth and by competitiveness, since employees derive their satisfaction with life from the personality qualities especially valued in such economic systems. Using data from the World Values Survey and its Wave 6 short-form measure of the Big Five, we find that the dimensions of agreeableness, conscientiousness, and emotional stability predict higher life satisfaction pan-nationally for employed persons. Cross-level moderation effects were found: national wealth enhances the linkage of conscientiousness and emotional stability to life satisfaction; agreeableness links to life satisfaction in wealthier but not in poorer nations; extroversion predicts life satisfaction in more competitive nations but not in less competitive nations. To explain this variability in the relationships of Big Five personality dimensions with the life satisfaction of employed persons, we reason that the national cultures of wealth and of competitiveness surrounding working life establish an incentive context within which enactments of these personality dispositions will generate greater social and personal rewards from the experience of work, yielding higher levels of life satisfaction among employed persons. [ABSTRACT FROM AUTHOR]

The purpose of the study is to determine the main factors and prerequisites for inequality and poverty of the population of Ukraine, as well as to identify the main consequences of this phenomenon and finding out of the main directions of the socio-economic policy of the state. Methodology. The article considers theoretical approaches to the definition of social inequality and poverty, as well as issues with fair distribution of national wealth. The results of the study confirmed the thesis of the authors that the problems of poverty and social inequality adversely affect the functioning of national socio-economic systems. It is proved that the most effective state is one which has a broad layer of the middle class, which ensures the rationalization of consumption, saving and investment processes. Practical significance. Based on official statistical data of the main macroeconomic indicators of the state development, this article studies main trends in the development of Ukrainian economy and its social component. The coefficients of the correlation dependence between the indicators of development of the social and economic systems of Ukraine are calculated and conclusions regarding the absence of a state system of equal distribution of national wealth are drawn. Value/originality. The result of the study is a statement about the need to modernize and reform the existing system of redistribution of national wealth in Ukraine with a view to reducing poverty and social inequality in the country.

Can income equality and national wealth go hand in hand? This issue has long marked the distance between the neoliberal and the social democratic policy paradigms. By combining so far unrelated streams of literature, we sketch a theoretical framework in which fiscal policies shape four "fiscal worlds", each of them characterized by a special balance between income equality and national wealth. Then, we resort to Boolean algebra and fuzzy sets to develop a measure that encompasses both these policy outcomes at once without assuming any a priori functional relationship. Last, we assess the heuristic capacity of our measure by mapping the EU countries' membership to the four fiscal worlds from 2007 until 2016 and the trajectories they followed. [ABSTRACT FROM AUTHOR]

Using the Gallup World Poll data, we examined whether national income inequality moderated the effects of affluence on individual subjective well-being (SWB). Multilevel analyses found that people reported higher life evaluation in years when their nation had higher GDP. Between-nation effects showed that people in wealthier nations reported greater SWB (but also more negative feelings) than those in poorer nations. Furthermore, people in unequal nations (i.e., greater income inequality) reported higher life evaluation and positive feelings than those in more equal nations. National income inequality also moderated the effects of individual-level income on SWB— income showed stronger associations with SWB in more equal nations than in nations with higher income inequality. People who earned higher incomes had higher life evaluation and positive feelings, and lower negative feelings than those who earned lower incomes, but the effects were stronger in more equal nations. These findings suggest that money matters less to the SWB of people in unequal nations than those in equal nations. [ABSTRACT FROM AUTHOR]

Abstract Disasters affect significant numbers of people in the poorest parts of the world. The main impediment to progress in reducing the extent of disaster outcomes appears to come from inabilities to address macro-economic drivers of vulnerability. This study examines the association between three key drivers of vulnerability, i.e. wealth/poverty, income inequality and the absence/presence of social welfare systems, and short-term and long-term disaster outcomes. Drawing on lengthy time-series data, we apply a data driven approach, focusing only on those countries that have experienced major natural or technological disasters, to generate new understanding of these drivers. Our study finds that in relation to natural hazards: less developed countries experience worse human impacts than more developed countries; developed countries suffer larger economic losses; countries with greater levels of income inequality have more people affected than in more equal countries; and social welfare (using both Sen's indexes and public social spending) in OECD countries appears to reduce the human impacts of disasters. We also conclude that the human impacts of natural disasters delay economic growth in poor countries. For the technological hazard-associated disasters, while there is no evidence that national wealth and income inequality determine human impacts, we find that larger human impacts in poor countries undermines economic growth. Our key finding is the unequivocal and central role of income inequality in shaping disaster outcomes. Future research and policy on disaster risk reduction has to acknowledge this 'elephant in the room'. [ABSTRACT FROM AUTHOR]

Privacy (or the lack of it) is an important feature of the interview. Researchers rely on interviewers to ensure a private setting. In reality, interviewers are guests in respondents’ homes and might find it difficult to achieve privacy. Thus, a substantial proportion of interviews are conducted in the presence of a third party. We investigate whether there are cultural and interviewer variations in interview privacy and whether respondent characteristics associated with interview privacy vary by culture. We analyzed data from 14 countries. The results highlight the direct and indirect role the country-level characteristics (level of individualism and wealth) play in explaining cultural differences in rates of interview privacy and the significant between-interviewer variation in interview privacy. [ABSTRACT FROM AUTHOR]

Climate change cannot be successfully mitigated solely through individual-level actions. Structural change is urgently needed. While wealthy countries have the greatest capacity to implement structural change, the question remains to what extent perceived country wealth is associated with support for structural climate policies over individual-level behaviour change policies. We found in Australian (Study 1) and UK (Study 2) samples (N = 967) that perceived national wealth positively predicts people's support for structural (vs. individual-level behaviour) change policies. In an experimental (Study 3, N = 401) and a quasi-experimental study (Study 4, N = 400; comparing South African and UK participants), we found that people in both wealthy and poor countries more strongly prefer wealthy (vs. poor) countries to implement structural (vs. individual-level behaviour) change policies. There was some evidence that these effects are mediated by perceiving wealthy countries to have a moral obligation to contribute to the solution of global issues. The findings suggest that there is considerable public support for wealthy countries to spearhead structural transformations to limit climate change. These insights can help environmental organisations and policymakers to gain public support for climate policies by emphasising their countries' moral obligation to implement change and by countering blame-deflecting narratives. • Perceived national wealth increases support for structural climate policies. • Moral obligation to contribute to the solution of global issues mediates the effect. • Emphasising wealthy countries' moral duty can boost climate policy support. • Highlights the importance for psychology to focus on structural climate solutions. [ABSTRACT FROM AUTHOR]

We often meet with the analysis of household final consumption expenditure, less frequently with analyzes of household wealth. Both categories are important for the characterization of the standard of living, both are provided by the system of national accounts, but each of them is quite a different phenomenon. Household wealth comes, besides capital transfers and other changes, mainly from accumulated part of disposable income not used for current expenditure on fi nal consumption.

Abstract Hypotheses derived from intergroup threat theory and social identity theory were tested by analyzing cross-national data about national identity and attitude toward immigrants. National identification, perceived threat and support for irregular immigrant exclusion were considered as variables at the individual level. Gross domestic product, Gini index and individualism–collectivism index were used as national descriptors. Results indicated that, across 33 nations worldwide, intergroup threat mediated the relationship between national identification and support for immigrant exclusion. Moreover, the level of national wealth moderated this mediation so that perceived threat was a stronger mediator in rich than in poor nations. On the other hand, Gini index and individualism did not affect this mediation. Present findings are supportive for intergroup threat theory and social identity theory. [ABSTRACT FROM AUTHOR]

This article examines cross-cultural differences in the value cluster of environmentalism and postmaterialism. Based on an extension of Ronald Inglehart's "objective problems--subjective values" hypothesis, we posit different sources of postmaterialism and environmental concern in wealthy versus poor countries. We test hypotheses on the relationship between national wealth, postmaterialist values, and environmental concern using empirical data from the World Values Survey waves 5 and 6 and the International Social Survey Program 2010. Using multilevel regression models with cross-level interaction terms and country fixed effects, we show that the effect of postmaterialism on environmental concern is indeed moderated by national wealth: whereas there is a weak or even no effect in poorer countries, the relationship is substantial in wealthy countries. Therefore, we argue that individual postmaterialist values and environmental concern do in fact form a coherent structure in wealthy countries, but should be considered as isolated constructs in poorer countries. [ABSTRACT FROM AUTHOR]

In the article, an application of the approach, based on the methodology of the indicative analysis, to the modeling of a condition of the national wealth of the Russia’s regions is proved, its main advantages are shown. Research purposes are: to define a quality and development level of the national capital components of constituent territories of the Russian Federation (the natural and resource, physical and human capitals); and to identify the reasons of a developing situation; to define a contribution of each subject of the Russian Federation in the developing of the country’s national wealth; to contribute to the individual approach development of the management of components of the national capital for all the Russia’s regions. The methodic allowing to transform the different indicative indicators of various measure to a balance, and also to receive and differentiate integrated estimates of components of the national capital of each territorial subject of the Russian Federation according to the offered classification is given. As an example of the assessment results of the human capital of the constituent territories of the Russian Federation in 2011 (in the rating form) and diagrams of its changing for 2000-2011 in the Russian Federation’s subjects of the first and last places in rating are presented. The assessment mechanism of contribution of particular components of human capital to the development of its integrated assessment is given, and such opportunity is shown.

National wealth can be estimated via the System of National Accounts (SNA). According to SNA-numbers, Norwegian fisheries contributed negatively to the national wealth in the period 1984–2016 with exception of the years 2010–2011 and 2015–2016. Because all parameter values entering the calculation of national wealth are conditional on the existing management regime, the potential value of the natural resources may be concealed. This paper finds that this is the case for the Norwegian fishery sector. Using a numerical optimization model, the paper estimates the contra factual resource rent to be 1.6 billion USD if the fishing quotas were harvested efficiently with the currently available technology. This is 1.2 billion USD more than the observed resource rent in 2011 and means that Norwegian fisheries contribute to national wealth four times more than indicated by 2011 SNA-numbers. Hence, national wealth calculations based on official statistics may trivialize the role of natural resources. [ABSTRACT FROM AUTHOR]

Copyright of Ekonomika is the property of Society of Economists 'Ekonomika' and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

National culture could be a key factor in explaining nations' readiness for knowledge economy (RKE). This study extends Khalil and Marouf s (2015) investigation into seeking a cultural values-based understanding of the variation in RKE across nations. Using a data set on 59 nations, nine hypotheses were tested and national wealth's mediating effect on the national culture-RKE relationship was explored. Results indicate that the cultural values of uncertainty avoidance, future orientation, institutional collectivism, and in-group collectivism have the most negative influence on RKE, respectively, whereas humane orientation has a positive influence. When national wealth is controlled for, uncertainty avoidance is the most influential cultural determinant of RKE. These findings could provide a foundation for culture-based policies and strategies aimed at enhancing RKE across nations. [ABSTRACT FROM AUTHOR]

National wealth is one of the most important macroeconomic indicators that basically highlights the material and spiritual wealth of a nation, accumulated over time. Both through the produced capital and the intangible capital, the national wealth plays a decisive role in ensuring sustainable economic and social development. This paper aims to present first the concept of national wealth, as well as the concerns and difficulties in measuring this indicator on a national and international level. Secondly, based on a World Bank study, we conducted a comparative analysis of the national wealth of 28 EU member states, insisting on Romania's place. The presented data highlight both the trend of increasing the value of the national wealth of all the 28 EU countries, but also the significant differences in the level of total national wealth. [ABSTRACT FROM AUTHOR]

The economic power of a country is the ability of all its residents to influence the other subjects of international economic relations by economic means and to withstand external impact. The abstract nature, multidimensionality and complexity of the concept of economic power determine the plurality of methods for its quantitative measurement. The examples of the existing assessments of countries' economic power at the beginning of the 21st century are given based on its key determinants. The methods based on the criteria of GDP, national wealth, trade sphere of influence, multi-component indices and subjective assessments are preferably used. Most assessments show the distribution of economic power between countries in a fairly similar way. However, the methods based on national wealth and its components give a distinct advantage to developed countries, and the methods of subjective assessments in individual countries can show unexpected results. The problematic aspects of the existing methods include the failure to take into account economic dynamics, informal economy, environmental impact, non-periodicity of statistical data publication, coverage of a part of economic entities, one-dimensionality, arbitrary weighting coefficients of factors or duplication of information. We propose the economic power index based on fixed values and dynamics of adjusted net national income. The application of such index made it possible to assess the economic power of the vast majority of countries and a number of integrated entities. The leading countries, i.e. USA and China, were similarly assessed. Taking into account the incomplete integration, the EU takes the third place. The developed countries account for a half of economic power of the world's countries, the newly industrialized countries -- for more than one third, the least developed countries -- for less than 1 per cent. The enhancing effect of integrated entities on their key member states was assessed. The advantages and disadvantages of the proposed method of assessment were presented. It has advantages when comparing countries with similar economy size and does not have any significant advantages in relation to the method of GDP when comparing economies of a significantly different sizes. The proposed method points to the relatively larger power of the North American countries, developed countries and East Asian countries as compared to their share in the gross world product. [ABSTRACT FROM AUTHOR]

The purpose of the article is to develop the methodical apparatus of national wealth's assessment specifically the assessment of natural resources. In national wealth, there is a part that can be defined as a natural resource capital. In the paper methodical approach to its assessment for the territory if regional level is allocated. The general scheme of technique is introduced; examples of indicative indicators are given. At the heart of the offered technique, the principle of the indicative analysis is laid seven degrees of security with the natural resource capital are allocated for more exact classification. In the article, the basic elements of natural resource capital forming territories' condition are allocated dynamics of their change during 2000-2012 is given. The analytical part of the paper is based on the author's estimated data. The situation description of federal districts and some Russian Federation territorial subjects in the framework of natural resource capital security are provided; numerical values of the main indicative indicators are presented.

Measuring sustainable development based on analytical models of growth and development and modern methods of growth accounting is an economic approach—often called the capital approach – to establishing sustainable development indicators (SDIs). Ecological approaches may be combined with the capital approach, but there are also other approaches to establishing sustainable development indicators—for example the so-called integrated approach. A recent survey of the various approaches is provided in UNECE, OECD and Eurostat [1]. This review note is not intended to be another survey of the various approaches. Rather the objective of this paper is twofold: to present an update on an economic approach to measuring sustainable development—the capital approach—and how this approach may be combined with the ecological approach; to show how this approach is actually used as a basis for longer-term policies to enhance sustainable development in Norway—a country that relies heavily on non-renewable natural resources. We give a brief review of recent literature and set out a model of development based on produced, human, natural and social capital, and the level of technology. Natural capital is divided into two parts—natural capital produced and sold in markets (oil and gas)—and non-market natural capital such as clean air and biodiversity. Weak sustainable development is defined as non-declining welfare per capita if the total stock of a nation's capital is maintained. Strong sustainable development is if none of the capital stocks, notably non-market natural capital, is reduced below critical or irreversible levels. Within such a framework, and based on Norwegian experience and statistical work, monetary indexes of national wealth and its individual components including real capital, human capital and market natural capital are presented. Limits to this framework and to these calculations are then discussed, and we argue that such monetary indexes should be sustainable development indicators (SDIs) of non-market natural capital, and physical SDIs, health capital and social capital. Thus we agree with the Stiglitz-Sen-Fitoussi Commission [2] that monetary indexes of capital should be combined with physical SDIs of capital that have no market prices. We then illustrate the policy relevance of this framework, and how it is actually being used in long term policy making in Norway—a country that relies heavily on non-renewable resources like oil and gas. A key sustainability rule for Norwegian policies is to maintain the total future capital stocks per capita in real terms as the country draws down its stocks of non-renewable natural capital —applying a fiscal guideline akin to the Hartwick rule.

Many of Xenopols studies, articles and economic papers fully prove his permanent interest in this area, so important for the life of a country. By means of the measures suggested, he intended to give a new orientation to the economic development of agriculture, industry and commerce in the financial-banking field as a premise for the growth of the peoples living standard, but also as a necessary condition for the political and cultural progress. In their essence, all these measures were intended to change the structure of Romanias economy.

Many of Xenopol’s studies, articles and economic papers fully prove his permanent interest in this area, so important for the life of a country.. This fact urged him to look into the economic state of his people, to search for its causes and formulate solutions, some of them among the most realistic ones, for its improvement, for the reduction of the gap that separated us from the most economically developed countries

In highly multicultural societies, the economic status hierarchy may come to mimic the hierarchy of global wealth, reinforcing social inequality by tying pay scales to national wealth. We investigated how nationality influences expectations of payment in the United Arab Emirates. Participants reported how much they expected people to be paid and how much skill they were perceived to have by nationality. They also reported their perceptions of the national wealth of different countries. Participants generally expected Westerners to be paid more than Arabs, who would be paid more than Sub-Saharan Africans and Asians. Expectations about payment in private sector employment were driven by both actual and stereotyped differences in national wealth and skill, with non-GCC Arabs most likely to see national wealth as a factor explaining the economic hierarchy. These results suggest that people expect payment to be tied to national wealth, reflecting the global hierarchy on a microscale.

National income produces mixed impacts on public environmental concern. In a cross-national survey, environmental concern was measured in terms of propensity to act and environmental risk perception. Results of a multilevel regression analysis show that these two measures respond to gross domestic product per capita in opposite ways. Citizens of advanced industrial countries are more likely than those of lower-income countries to contribute to environmental protection. However, they are less likely to see the harmful impacts on the environment as very dangerous. Using an indicator of national adaptive capacity, this article demonstrates that environmental risk perception is a function of a country’s estimated capacity for coping with condition changes. The stronger sense of collective security among citizens of wealthier nations offers a possible explanation for the negative effects of national income. These results indicate the complex relationship between development and public environmental concern across countries. [ABSTRACT FROM AUTHOR]

This article provides historical account of wealth accumulation and composition in Sweden during the nineteenth and twentieth centuries. A detailed account on capital formation during the industrialisation process shows that produced capital grew faster than natural capital from the 1850s. Natural capital was changing from a predominance of forest towards crop land as the main asset in the early twentieth century. Produced capital was largely bounded in the agriculture sector up till the second half of the nineteenth century. Heavy investments in the infrastructure sector and later in the manufacturing section changed the produced capital structure and thereby lowered transport costs and return of investment in manufacturing and services; providing incentives for accumulating the stock of produced capital and enhance consumption and living standard. The return on capital was dispersed from the outset of the period but has converged over time. [ABSTRACT FROM PUBLISHER]