Using Inclusive Wealth for Policy Evaluation: Application to Electricity Infrastructure Planning in Oil-Exporting Countries

This article applies the concept of inclusive wealth to evaluate long-term infrastructure investment decisions in oil-exporting countries. The authors argue that conventional economic measures often fail to account for the depletion of natural capital and the sustainability implications of development choices. Using electricity infrastructure planning as a case study, the paper demonstrates how an inclusive wealth framework can incorporate produced, human, and natural capital into policy evaluation. The analysis highlights the tradeoffs between short-term economic gains and long-term sustainability, offering a more comprehensive approach to infrastructure planning and resource management in resource-dependent economies.