Comparing the Welfare of Growing Economies

Geir Asheim

No 03/2010, Memorandum from Oslo University, Department of Economics

Abstract: Economies that currently have the same productive capacity may implement different growth rates. This entails that it is insufficient to base international comparisons of welfare solely on current well-being, or introducing the potential for future growth in an arbitrary manner. NNP-based measures trade off current well-being and the potential for future growth in a consistent manner. This paper shows that it matters for NNP-based measures whether different growth rates in different economies are due to different technological opportunities or different social preferences for development.

Keywords: National accounting; Growth; Dynamic welfare (search for similar items in EconPapers)
JEL-codes: D60 D90 O47 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2010-02-10
New Economics Papers: this item is included in nep-fdg and nep-hap
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Citations: View citations in EconPapers (3)

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Journal Article: Comparing the welfare of growing economies (2011)
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