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Operationalization and Estimation of Balanced Development Index for Poland 1999-2016

Andrzej K. Koźmiński (), Katarzyna Piotrowska (), Krzysztof Zagórski () and Adam Noga ()

Statistics in Transition new series, 2015, vol. 16, issue 3, 461-478

Abstract: Stemming from assumption that Gross Domestic Product is an index oversimplifying economic development and not reflecting socio-economic development, the paper presents conceptualization, operationalization and estimation of Balanced Development Index (BDI), concerning both economic and social development in Poland. Actual values of this index as well as its four composite components (middle-level indexes) are presented for 1999-2013. A statistical model allowing estimation of BDI values as well as short-term forecasts is proposed alongside with the concept of balanced development. Application of this model for 1999-2016 is presented.

Keywords: socio-economic development; index; economic indicators; social indicators; balanced development; evaluations; predictions (search for similar items in EconPapers)
Date: 2015
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Handle: RePEc:csb:stintr:v:16:y:2015:i:3:p:461-478