Beyond GDP: Measuring Economic Well-Being in Canada and the Provinces, 1981-2010
Lars Osberg () and
Andrew Sharpe ()
No 2011-11, CSLS Research Reports from Centre for the Study of Living Standards
This report presents new estimates of the Index of Economic Well-being (IEWB) and its four domains (consumption flows, stocks of wealth, economic equality and economic security) for Canada and the provinces for the 1981-2010 period. It finds that the IEWB advanced at a 0.78 per cent average annual growth rate over the period, below the 1.32 per cent growth for GDP per capita. Both the consumption and wealth domains experienced solid advances over the period, but these developments were offset by declines in the equality and economic security domains. The recent recession caused a decline in the IEWB for Canada, driven by declines in wealth and economic security.
Keywords: well-being; economic measurement; IEWB; consumption; wealth; equality; economic security (search for similar items in EconPapers)
JEL-codes: E01 I31 E21 E24 (search for similar items in EconPapers)
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