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Government Effectiveness, Education, Economic Development And Well-Being: Analysis Of European Countries In Comparison With The United States And Canada, 2000-2007

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  • Guisan, M.C.

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Abstract

In this article we present an econometric analysis of the relationship between several indicators of economic development and wellbeing in Europe, the United States and Canada. We calculate a compound index of several indicators based on three groups: 1) Life satisfaction and income per capita, 2) governance indicators based on World Bank, including Voice and Accounting Index and Government Effectiveness Index, and 3) Educational indicators, including public education expenditure per capita and average total years of schooling, The most outstanding countries in the overall index are Norway, Denmark, Sweden, the United States, Austria, Ireland, Switzerland, Canada, Finland, Netherlands, and the United Kingdom. The three groups of indicators are highly correlated in several ways, due to the important positive effects of education on economic development and governance effectiveness, as well as to the positive effects of the “Voice and Accounting” index on “Governance Effectiveness”, and the importance of the latter for economic development, as it is shown in the estimated econometric models.

Suggested Citation

  • Guisan, M.C., 2009. "Government Effectiveness, Education, Economic Development And Well-Being: Analysis Of European Countries In Comparison With The United States And Canada, 2000-2007," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 9(1).
  • Handle: RePEc:eaa:aeinde:v:9:y:2009:i:1_4
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    File URL: http://www.usc.es/economet/reviews/aeid914.pdf
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    References listed on IDEAS

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    1. Lee, Jong-Wha & Barro, Robert J, 2001. "Schooling Quality in a Cross-Section of Countries," Economica, London School of Economics and Political Science, vol. 68(272), pages 465-488, November.
    2. Guisan, M.Carmen & Cancelo, M.Teresa, 2001. "Economic Development in OECD Countries during the 20th Century," Economic Development 49, University of Santiago de Compostela. Faculty of Economics and Business. Econometrics..
    3. Guisan, M.Carmen & Frias, Isidro, 1996. "Economic growth and social welfare in the European regions," Economic Development 9, University of Santiago de Compostela. Faculty of Economics and Business. Econometrics..
    4. GUISAN, Carmen & Neira, Isabel, 2006. "Direct and Indirect Effects of Human Capital on World Development, 1960-2004," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 6(1), pages 17-34.
    5. Portela, Marta & Neira, Isabel, 2002. "Capital Social: Concepto y Estudio Econometrico sobre el Capital Social en España," Estudios Economicos de Desarrollo Internacional, Euro-American Association of Economic Development, vol. 2(2).
    6. Andrew Sharpe, 1999. "A Survey of Indicators of Economic and Social Well-being," CSLS Research Reports 99wb, Centre for the Study of Living Standards.
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    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. 9. Latin America 2000-2007: The Role of Investment, Industry and Foreign Trade in economic development. Euro-American Association of Economic Development Studies
      by Euro American Association EAAEDS in Euro-American Association: World Development on 2009-08-18 19:42:00

    Citations

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    Cited by:

    1. GUISAN, Maria-Carmen & AGUAYO, Eva, 2011. "Women Participation, Quality Of Government And Economic Development In Europe, 2000-2007," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 11(1).
    2. POPKOVA, Elena, 2014. "New Prospects Of Economic Growth In Context Of Underdevelopment Whirlpools Phenomena," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 14(1), pages 5-20.
    3. Ibrahim, M.A., 2013. "Financial Development And Economic Growth In Saudi Arabian Economy," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 13(1), pages 133-144.
    4. B. Mak ARVIN & Byron LEW, 2012. "Development Aid, Corruption, and the Happiness of Nations: Analysis of 118 countries over the years 1996-2009," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 12(2).
    5. Guisán, M.C. & Expósito, P, 2011. "Regional Employment and Unemployment by Gender in Spain in comparison with other European Countries," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 11(1).
    6. RODOKANAKIS, Stavros & VLACHOS, Vasileios, 2010. "A Non-Experimental Evaluation Of Education And Training In Greece: The Cases Of Northern Aegean And Crete," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 10(1).

    More about this item

    Keywords

    Governance; Education; Social Capital; Economic Development; Well-being Indexes; European Union; United States; Canada.;

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • I2 - Health, Education, and Welfare - - Education
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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