Mele, Gianluca2014-06-262014-06-262014-05https://hdl.handle.net/10986/18798A data set of key macro-sustainability indicators, constructed after several fact-finding missions, and World Bank methodologies on estimating wealth accounting are used to study Mauritania's wealth, which is estimated to be between USD50 and USD60 billion. The country's produced wealth represents roughly 12 percent of total wealth, much less than in lower-middle-income countries; by contrast, natural wealth represents approximately 45 percent of the total figure. Renewable resources account for slightly less than two-thirds of natural wealth, with fisheries alone equaling about one-fourth of natural wealth. This is good news for Mauritania, as sound management of these resources may ensure a constant flow of resources in the future and therefore -- with adequate policies -- the achievement of the same or higher levels of welfare for future generations. On the negative side, however, the ratio of net adjusted savings over gross national income is estimated to have been negative since 2006, meaning that the wealth of the country is being depleted. Mauritania has recently joined the ranks of lower-middle-income countries, largely thanks to its considerable natural resources endowment. Over time the mining sector's contribution to gross domestic product has grown significantly and important discoveries continue to be made. The overarching objective of this wealth accounting exercise is thus to support Mauritania to measure its assets better and achieve a more complete picture of the prospects for future income, with a view to better orienting public policies toward sustainable growth and shared prosperity. The paper concludes with several indicative policy recommendations.Un ensemble de données sur les principaux indicateurs macroéconomiques, construit après plusieurs missions d'enquête, et les méthodes de la Banque mondiale sur la comptabilisation de la richesse sont à la base de cette étude quantitative sur la richesse de la Mauritanie, qui est estimée se situer entre 50 et 60 milliards de dollars américains. La richesse produite par le pays représente environ 12 pour cent de la richesse totale, beaucoup moins que dans les pays à revenu moyen inférieur; En revanche, la richesse naturelle représente environ 45 pour cent du chiffre total. Les ressources renouvelables représentent un peu moins de deux tiers de l’ensemble des richesses naturelles. La pêche seule est égale à environ un quart de toute la richesse naturelle. Ce sont de bonnes nouvelles pour la Mauritanie, car une bonne gestion de ces ressources peut assurer un flux constant de revenu à l'avenir et, par conséquent - avec des politiques adéquates – d’atteindre les mêmes niveaux de bien-être (ou des niveaux plus élevés) pour les générations futures. Cependant, le ratio de l'épargne nette ajustée sur le revenu national brut est estimé avoir enregistré des valeurs négatives depuis 2006, ce qui signifie que la richesse du pays est en train de s'épuiser. La Mauritanie a récemment rejoint les rangs des pays à revenu intermédiaire, tranche inférieure, en grande partie grâce à sa grande dotation en ressources naturelles. Au fil du temps le secteur minier a contribué de façon remarquable à l’augmentation du produit intérieur brut, et d’importantes découvertes continuent d’être faites. L'objectif primordial de cet exercice de comptabilisation de la richesse est donc de aider la Mauritanie à mieux mesurer ses stocks de façon quantitative ainsi qu’à obtenir une image plus complète sur les perspectives de revenus futurs, afin de mieux orienter les politiques publiques vers la croissance durable et la prospérité partagée. Le document se termine par des recommandations stratégiques indicatives.en-USCC BY 3.0 IGOACCOUNTINGACCOUNTING PERIODACCOUNTING RULESAFFILIATEAFFILIATED ORGANIZATIONSAGRICULTUREARREARSASSET VALUESASSETSBALANCE SHEETBALANCE SHEETSCAPITAL ASSETSCAPITAL EXPENDITURESCAPITAL INVESTMENTCAPITAL INVESTMENTSCAPITAL MARKETSCAPITAL STOCKCASH TRANSFERSCOMMODITIESCOMMODITYCOMMODITY PRICESCOMPETITIVENESSCONNECTIVITYCONSUMPTION EXPENDITURECONSUMPTION FUNCTIONCONSUMPTION INCREASESCORPORATE SOCIAL RESPONSIBILITYCOST OF CAPITALCURRENCYCURRENCY UNITSCURRENT EXPENDITURESCURRENT PRICESDAMAGESDATA AVAILABILITYDEBTDEBT LEVELSDECISION MAKINGDEMOGRAPHICDEPOSITSDERIVATIVESDEVELOPING COUNTRIESDEVELOPING ECONOMIESDEVELOPMENT ECONOMICSDEVELOPMENT POLICYDEVELOPMENT STRATEGIESDIMINISHING RETURNSDISCOUNT RATEDISPOSABLE INCOMEDOMESTIC INVESTMENTDURABLESECONOMIC DEVELOPMENTECONOMIC RESEARCHECONOMIC SECTORSEFFICIENT CAPITALEFFICIENT CAPITAL MARKETSELASTICITYEMPLOYMENTENERGY EXPORTSENVIRONMENTAL DEGRADATIONENVIRONMENTAL FACTORSEQUIPMENTEXCHANGE RATEEXPENDITUREEXPENDITURESEXPORTEREXPORTERSEXPORTSEXTERNAL DEBTFERTILITY RATEFINANCIAL ASSETSFINANCIAL INSTITUTIONSFISCAL DEFICITFISCAL POLICIESFISCAL POLICYFIXED CAPITALFIXED COSTSFOOD PRICESFOREIGN ASSETSFOREIGN COMPANIESFOREIGN DIRECT INVESTMENTFOREIGN INVESTORSFUTURE GROWTHFUTURE PRICESGDPGDP DEFLATORGDP PER CAPITAGOVERNMENT SPENDINGGROSS DOMESTIC PRODUCTGROSS FIXED CAPITAL FORMATIONGROSS NATIONAL SAVINGSGROSS SALESGROWTH POTENTIALGROWTH RATEGROWTH RATESHUMAN CAPITALHUMAN DEVELOPMENTHUMAN RESOURCESINCOMEINCOMESINFLATIONINFLATION RATEINFRASTRUCTURE DEVELOPMENTINFRASTRUCTURE PROJECTSINTANGIBLEINTERNATIONAL BANKINTERNATIONAL FIRMSINTERNATIONAL RESERVESINTERNATIONAL TRADEINVESTINGINVESTMENT CAPITALINVESTMENT POLICIESINVESTMENT PROJECTSITCJOB CREATIONJOINT VENTURELABOR COSTSLAND AS COLLATERALLAND USELEVEL OF CONFIDENCELIABILITYLIQUIDITYLOCAL CURRENCYLONG-TERM COSTLOW-INCOME COUNTRIESMACROECONOMIC ANALYSISMACROECONOMIC CONTEXTMACROECONOMIC MANAGEMENTMACROECONOMIC POLICIESMARGINAL UTILITYMARGINAL UTILITY OF CONSUMPTIONMARKET SHAREMIDDLE-INCOME COUNTRIESMISMANAGEMENTMONETARY FUNDMONOPOLYNATIONAL DEVELOPMENTNATIONAL INCOMENATIONAL SAVINGNATURAL CAPITALNATURAL RESOURCENATURAL RESOURCESNET FOREIGN ASSETSNET SAVINGSNPVOIL PRICESOIL RESERVESOPERATING COSTSOPPORTUNITY COSTOPPORTUNITY COSTSOUTPUTPERMANENT INCOMEPERMANENT INCOME HYPOTHESISPOLICY CREDIBILITYPOLITICAL ECONOMYPOLLUTIONPRESENT VALUEPRICE VOLATILITYPRIVATE CAPITALPRIVATE CAPITAL STOCKSPRIVATE INVESTMENTPRODUCTION COSTSPRODUCTIVE CAPITALPRODUCTIVITYPROFIT MARGINPROPERTY RIGHTSPUBLIC AGENCIESPUBLIC DEBTPUBLIC EXPENDITURESPUBLIC INVESTMENTPUBLIC INVESTMENTSPUBLIC POLICIESPUBLIC SPENDINGPUBLIC-PRIVATE PARTNERSHIPRAPID EXPANSIONRATE OF RETURNRE-INVESTMENTREAL GDPREAL PROPERTYREINVESTMENTRENTSRESERVERESERVESRETURNSAFETY NETSSAVINGSSAVINGS RATESAVINGS RATESSOCIAL DEVELOPMENTSOCIAL SAFETY NETSSTATISTICAL ANALYSISSUSTAINABLE DEVELOPMENTSUSTAINABLE GROWTHTAXTAX ADMINISTRATIONTAX REVENUETAX REVENUESTOTAL COSTSTOTAL REVENUETRADE BALANCETRANSPARENCYTRANSPARENCY INITIATIVEUTILITY FUNCTIONVALUATIONVARIABLE COSTWAGESWEALTHWORLD DEVELOPMENT INDICATORSWORLD MARKET10.1596/1813-9450-6887