This paper constructs measures of Genuine Savings (GS), the leading economic indicator of sustainable development, for 28 European economies from 1990 to 2016. The World Bank publishes GS estimates for most countries in the world. The World Bank’s estimates are extended to include local air pollutants (sulfur dioxide, non-metallic volatile organic compounds, nitrogen oxides and ammonia), on a country-specific basis. The extended pollution damages have a sizeable impact, even for highly developed economies. As many as 11 member states signaled persistent unsustainable development compared with just two in the equivalent World Bank dataset. Overall, it appears economies with higher levels of per capita national income and those more open to trade tend to hold higher savings rates. Findings of negative savings, an indicator of unsustainable development, were concentrated in the former communist regimes of Eastern Europe.

中文翻译：

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我们呼吸的空气：空气污染估计为欧洲带来真正的节约

本文构建了 1990 年至 2016 年 28 个欧洲经济体的真实储蓄（GS）指标，这是可持续发展的领先经济指标。世界银行发布了世界上大多数国家的 GS 估计值。世界银行的估算范围扩大到包括特定国家的当地空气污染物（二氧化硫、非金属挥发性有机化合物、氮氧化物和氨）。即使对于高度发达的经济体，扩大的污染损害也会产生相当大的影响。多达 11 个成员国表示持续的不可持续发展，而世界银行数据集中只有两个。总体而言，人均国民收入水平较高和贸易开放程度较高的经济体似乎往往持有较高的储蓄率。负储蓄的调查结果，