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Welfare Criteria for Policy Making: The BDI Index
Jönköping University, Jönköping International Business School, JIBS, Economics.
2011 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

GDP and GDP per capita are widely used to gauge for living standards across countries. However, they have originally not been constructed for this purpose and are therefore subject to significant limitations. This paper aims at developing a better and non-monetary development index with which cross-country living standards can be assessed. This index, the BDI, can then be utilized for policy making. When constructing the BDI, this study utilizes time series analysis and panel unit root tests. A major finding of this study is that the BDI does indeed produce statistically significantly different results/ rankings for a special set of countries, compared to GDP and GDP per capita.   

Place, publisher, year, edition, pages
2011. , 42 p.
Keyword [en]
Welfare measurement, limitations of GDP, panel data analysis, BDI
National Category
URN: urn:nbn:se:hj:diva-15144OAI: diva2:419771
Social and Behavioural Science, Law
Available from: 2011-06-16 Created: 2011-05-28 Last updated: 2011-06-16Bibliographically approved

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