State Economic Strength and Some Methodological Issues on Its Assessment

Gwang-Nam Rim (), Sun-Nam Jang (), Chol-Ju An (), Sun-Hui Hwang () and Son-Hui Ri ()
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Gwang-Nam Rim: Kim Il Sung University
Sun-Nam Jang: Kim Il Sung University
Chol-Ju An: Kim Il Sung University
Sun-Hui Hwang: Kim Il Sung University
Son-Hui Ri: Kim Il Sung University

Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, 2020, vol. 152, issue 2, No 9, 607-636

Abstract: Abstract At present, many international organizations and scholars, who are aimed to compare and assess country-specific economy or competitiveness, have set different standards and indicators and tried to assess the economic strength of individual country. But most of these standards and indicators are for the assessment of individual aspects and what is worse, they are not suitable for the real situation of the countries concerned. This paper deals with methodological issues on the assessment of state economic strength. To this end, authors investigate the preceding studies on the assessment of economy of a given country, conceptualize the state economic strength, set a new system of indicators for assessing it and on this basis, produce a methodology for the synthetic assessment of state economic strength. The findings are that state economic strength must be defined in a view of economic capability which any country can exhibit by itself even under uncertain external environment, the indicators for assessing it include a variety of indicators in line with its essence, and assessment methodology must be synthetic one based on considering the weights of indicators. These findings may help, on the one hand, in assessing the economy of a given country and taking an economic and technical measures for its strengthening for policymakers, and on the other hand, in comparing and assessing the country-specific economy for organizations or scholars in a new perspective.

Keywords: State economic strength (SES); Economic structure; Economic strength assessment; Knowledge-based economy (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s11205-020-02459-9

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