Comparing the Welfare of Growing Economies
AbstractEconomies that currently have the same productive capacity may implement different growth rates. This entails that it is insufficient to base international comparisons of welfare solely on current well-being, or introducing the potential for future growth in an arbitrary manner. NNP-based measures trade off current well-being and the potential for future growth in a consistent manner. This paper shows that it matters for NNP-based measures whether different growth rates in different economies are due to different technological opportunities or different social preferences for development.
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Bibliographic InfoPaper provided by Oslo University, Department of Economics in its series Memorandum with number 03/2010.
Length: 13 pages
Date of creation: 10 Feb 2010
Date of revision:
Contact details of provider:
Postal: Department of Economics, University of Oslo, P.O Box 1095 Blindern, N-0317 Oslo, Norway
Phone: 22 85 51 27
Fax: 22 85 50 35
Web page: http://www.oekonomi.uio.no/indexe.html
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National accounting; Growth; Dynamic welfare;
Other versions of this item:
- D60 - Microeconomics - - Welfare Economics - - - General
- D90 - Microeconomics - - Intertemporal Choice - - - General
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-08-21 (All new papers)
- NEP-FDG-2010-08-21 (Financial Development & Growth)
- NEP-HAP-2010-08-21 (Economics of Happiness)
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- Mohajan, Haradhan, 2010. "Green net national product for the sustainability and social welfare," MPRA Paper 50840, University Library of Munich, Germany, revised 18 Feb 2011.
- Haradhan Kumar Mohajan, 2011. "The Real Net National Product in Sustainable Development," KASBIT Journal of Management & Social Science, Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 89-103, December.
- Mohajan, Haradhan, 2011. "The NNP and Sustainability in Open Economy: Highlights on Recent World Economy and on Open Economy of Bangladesh," MPRA Paper 50673, University Library of Munich, Germany, revised 17 May 2011.
- repec:ksb:journl:v:4:y:2011:i:1:p:32-47 is not listed on IDEAS
- repec:ksb:journl:v:4:y:2011:i:1:p:89-103 is not listed on IDEAS
- Haradhan Kumar Mohajan, 2011. "The NNP and Sustainability in Open Economy: Highlights on Recent World Economy and on Open Economy of Bangladesh," KASBIT Journal of Management & Social Science, Khadim Ali Shah Bukhari Institute of Technology (KASBIT), vol. 4, pages 32-47, December.
- Mohajan, Haradhan, 2011. "The Real Net National Product in Sustainable Development," MPRA Paper 50675, University Library of Munich, Germany, revised 20 Apr 2011.
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