MEASURING SUSTAINABLE ECONOMIC GROWTH

Andreea Ocolisanu () and Simona Marcela Agarbiceanu ()
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Andreea Ocolisanu: Lucian Blaga University, Faculty of Economics, Sibiu, Romania
Simona Marcela Agarbiceanu: Lucian Blaga University, Faculty of Economics, Sibiu, Romania

Management Strategies Journal, 2021, vol. 54, issue 4, 53-60

Abstract: Within the context in which worldwide concerns are oriented towards the rational and efficient usage of natural resources, on the decrease of the impact produced by industrialization and technological upgrading over the environment and the increase of living standards, it can be said that the concept of sustainable development has become an ever-present objective within political strategies as well as within international organizations- a thing which can be seen via their adopted strategies. For the 2030 Agenda, sustainable development encourages the delimitation of the economic growth from the negative impact it has over the environment and society at large. Eurostat monitors the implementation objectives of such a sustainable development at European Union Member States' level, of which, a specific interest is awarded to the attention given to the proposed sustainable economic growth and the set of indicators which can better illustrate the registered progress. Reinvigorating economic growth and ensuring its resilience and sustainability are key as the world emerges from the Covid-19 pandemic. The paper questions the relevance of the main indicator used in measuring sustainable economic growth and reviews alternative ways of measuring. The study concluded the necessity to adapt such measurement indicators to national conditions and to the priorities encountered by each economy, founding the premises for the development of new appropriate indicators to measure progress.

Keywords: sustainable economic growth; alternative indicators; policymaking; Gross Domestic Product; Beyond GDP (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:54:y:2021:i:4:p:53-60

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