Akademik Məlumat İdarəetmə Sistemi
37th International Scientific Conference on Economic and Social Development - Socio Economic Problems of Sustainable Development, Baku, Azerbaijan, 14 - 15 February 2019, pp.910-913
The national wealth notion and increase ways have been historically thought by the economists. One of the advices for entrepreneurs is "recline to your assets". When an entrepreneur establishes and improves his activities, he should use the assets as the base of development. This success key saying at the level of entrepreneur, I think, can also be attributed to the country. The category of the national wealth is macroeconomic category that measures the aggregate assets in the country. One of the main questions in the economic theory is that what is the wealth, how it is calculated, and what is its source. Mercantilists, physiocrats, classics have different opinions about this issue. In the study of the national wealth notion, the prominent economist Raymond Goldsmith, Eurostat and the UN Statistical Commission researches have a special place. Analyzing the existing theory, let's try to describe this category as follows. National wealth is a monetary expression of national-moral values and the amount of money that has been formed by deducting the country's and its residents' aggregate assets from outside that country's non-residents. The size of the country's national wealth affects the credit, the investment volume, and conditions of its economy. There are different approaches to the national wealth. I think it's more convenient for modeling based on the accumulated wealth distribution, but I suggest its improved option: natural wealth (depleted and inexhaustible) wealth created by human labor (physical, intellectual, financial) the essence of man. The methodology of calculating the national wealth category should be improved. The property must be calculated with full or residual value? When they calculate by residual value, there is a different approach to the amortization in the legislation of different countries. There are other questions from this point of view ... Along with other factors, sustainable development, requires the national wealth structure to be effective on key and sub-elements. That's why the invested capital in it should be oriented in terms of efficiency. The major change in the structure of national wealth in the world is increase of the human wealth share. What is the national wealth of our country? We try to find answer to this question.