GDP and beyond: Prosperity convergence in the countries of Western and Eastern Europe

Matić, Mirjana Gligorić; Gavrilović, Bilјana Jovanović; Stanišić, Nenad

doi:10.1556/032.2020.00033

Cited by 6 publications

(1 citation statement)

References 21 publications

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“…Sustainable finance can help improve Legatum's prosperity index by promoting responsible investment and allocating financial resources in a sustainable way [31]. These investments can support economic growth, leading to higher GDP and thus increased income and prosperity in a country.…”

Section: Sustainable Financementioning

confidence: 99%

Economic Resilience and Sustainable Finance Path to Development and Convergence in Romanian Counties

Oprisan,

Pirciog,

Ionascu

et al. 2023

Sustainability

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Economic resilience and sustainable finance are two interlinked and crucial issues for development and convergence in Romania’s counties increasing cohesion. These issues can contribute to sustainable and balanced growth of local and regional economies and to the reduction of inequalities in regional development. Economic resilience in counties refers to their capacity to adapt and survive in the face of unforeseen economic shocks or challenges, and sustainable finance refers to ensuring responsible management of financial resources to support long-term development and protect the environment. Identifying and understanding the significant variations in economic resilience and sustainable financing between counties is essential for the formulation of regional development policies and strategies. These variations provide valuable information about the vulnerabilities and opportunities of individual counties and guide resource allocation and investment decisions. The research provides new data and relevant information on the significant variations among counties in economic resilience and sustainable financing, using a Markov transition probability matrix and exploratory–visual method. This study on Romanian counties aims to provide valuable information for the formulation of public policies to support balanced economic development across the country. The results showed that economic diversification is essential to increase the resilience of the economy to shocks and fluctuations. Counties that have a diversified economic structure, with multiple sources of income and economic activities, are less vulnerable to the negative impact of economic or natural events. Governance and political stability are key factors in creating a favorable environment for investment and economic development. Well-managed government policies can help maintain macroeconomic stability and increase the resilience of the economy to external fluctuations.

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Section: Sustainable Financementioning

confidence: 99%

Economic Resilience and Sustainable Finance Path to Development and Convergence in Romanian Counties

Oprisan,

Pirciog,

Ionascu

et al. 2023

Sustainability

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Why Cross-Country Convergence of Income is Unsustainable: Evidence from Inclusive Wealth in 140 Countries

van Krevel

2023

Soc Indic Res

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Recent economic convergence studies show that cross-country income inequalities have declined since the 1990s. However, this study finds that this episode of income convergence is unsustainable in the long run because countries' capacity to earn income diverges. Specifically, the paper analyses the convergence of per-capita Inclusive Wealth, which comprises all capital assets that contribute to the production of goods and services and the well-being of its society. Utilizing a diverse array of techniques to estimate convergence in a sample of 140 countries between 1990 and 2010, the paper demonstrates the simultaneity of unconditional convergence of GDP and unconditional divergence of Inclusive Wealth. Natural-resource-rich countries that lack human capital, in particular, appear unable to match the global per capita Inclusive Wealth growth rate. A trend emerges towards a bimodal Inclusive Wealth distribution with a substantial low-wealth peak. Thus, although swift income convergence appears promising for developing nations, I caution against optimism. When considering a more appropriate measure of future well-being, such as Inclusive Wealth, the economic outlook for many countries is bleaker than recent studies suggest.

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Development as happiness: A multidimensional analysis of subjective well-being in Indonesia

Sujarwoto¹

2021

Economics &Amp; Sociology

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Although subjective well-being (SWB) has attracted policy-makers and researchers in the last decades, only a few studies exist on measuring the multidimensional measure of SWB and its determinants in a developing country context. In this study, we examine a multidimensional measure of SWB to identify its demographic and social determinants in Indonesia. A multidimensional measure of SWB was calculated based on the OECD SWB measure. For this analysis, we have used a unique representative national dataset, Indonesia's Happiness Survey 2017, consisting of 72,317 respondents aged 18 years and older, representing all of the country's 34 provinces. The results show that disparities in SWB exist across population groups, urban/rural groups, and the residents of various provinces and islands across the country. SWB shows consistent associations with household income, housing conditions, unemployment status, environmental quality, health status, work-life balance, social connectedness, neighborhood trust, personal security and personality. Contrasting relationships were found between SWB and household size, education and residence on certain islands. SWB may capture different information about personal well-being and quality of life than HDI and GDP. Policy makers are expected to monitor social and development progress as well as to obtain a more comprehensive understanding of quality of life in Indonesia.

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GDP and beyond: Prosperity convergence in the countries of Western and Eastern Europe

Cited by 6 publications

References 21 publications

Economic Resilience and Sustainable Finance Path to Development and Convergence in Romanian Counties

Economic Resilience and Sustainable Finance Path to Development and Convergence in Romanian Counties

Why Cross-Country Convergence of Income is Unsustainable: Evidence from Inclusive Wealth in 140 Countries

Development as happiness: A multidimensional analysis of subjective well-being in Indonesia

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