IDEAS home Printed from https://ideas.repec.org/a/spt/admaec/v12y2022i5f12_5_6.html
   My bibliography  Save this article

Time Series Characteristics of Canada’s Beyond GDP Indicators

Author

Listed:
  • Sochi Iwuoha
  • Joseph I. Onochie

Abstract

This paper investigates the time series properties of three Beyond-Gross Domestic Product (BGDP) measures in Canada, namely, gross national disposable income (GNDI), human development index (HDI), and index of economic freedom (IEF), along with Gross Domestic Product (GDP). GDP is the most used metric for measuring economic growth and is susceptible to influence by numerous factors beyond the value of production measured by GDP. BGDP measures have been suggested in the literature as alternative indicators that can capture economic progress in a more holistic way (Kimmerer, 2020). This paper generates and evaluates the descriptive statistics of GDP and BGDP indicators. To evaluate the potential existence of a long run relationship between GDP and BGDP indices, we performed Augmented Dickey Fuller stationarity and Johansen cointegration tests. The results demonstrate that per capita GDP is cointegrated with the BGDP indicators. Furthermore, this study shows for the first time in the literature that BGDP measures are cointegrated when paired with each other. The paper contributes to the literature by highlighting the time series properties of BGDP indicators in Canada. This insight facilitates understanding the behavior of BGDP measures, thereby further enhancing the use of these measures for econometric studies and policy making.

Suggested Citation

  • Sochi Iwuoha & Joseph I. Onochie, 2022. "Time Series Characteristics of Canada’s Beyond GDP Indicators," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 12(5), pages 1-6.
  • Handle: RePEc:spt:admaec:v:12:y:2022:i:5:f:12_5_6
    as

    Download full text from publisher

    File URL: http://www.scienpress.com/Upload/AMAE%2fVol%2012_5_6.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Clara Capelli & Gianni Vaggi, 2014. "Why Gross National Disposable Income should substitute Gross National Income," DEM Working Papers Series 091, University of Pavia, Department of Economics and Management.
    2. Barbara M. Fraumeni, 2017. "Gross domestic product: Are other measures needed?," IZA World of Labor, Institute of Labor Economics (IZA), pages 368-368, May.
    3. Kubiszewski, Ida & Costanza, Robert & Franco, Carol & Lawn, Philip & Talberth, John & Jackson, Tim & Aylmer, Camille, 2013. "Beyond GDP: Measuring and achieving global genuine progress," Ecological Economics, Elsevier, vol. 93(C), pages 57-68.
    4. Clara Capelli & Gianni Vaggi, 2013. "A better indicator of standards of living: The Gross National Disposable Income," DEM Working Papers Series 062, University of Pavia, Department of Economics and Management.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Burhan, Nik Ahmad Sufian & Mohamad, Mohd Rosli & Kurniawan, Yohan & Sidek, Abdul Halim, 2014. "National Intelligence, Basic Human Needs, and Their Effect on Economic Growth," MPRA Paper 77267, University Library of Munich, Germany.
    2. Ida Kubiszewski & Kenneth Mulder & Diane Jarvis & Robert Costanza, 2022. "Toward better measurement of sustainable development and wellbeing: A small number of SDG indicators reliably predict life satisfaction," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(1), pages 139-148, February.
    3. Francesco Sarracino & Kelsey J. O’Connor, 2023. "Neo-humanism and COVID-19: Opportunities for a socially and environmentally sustainable world," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 18(1), pages 9-41, February.
    4. Hametner, Markus, 2022. "Economics without ecology: How the SDGs fail to align socioeconomic development with environmental sustainability," Ecological Economics, Elsevier, vol. 199(C).
    5. Galaz, V. & de Zeeuw, Aart & Shiroyama, Hideaki & Tripley, Debbie, 2016. "Planetary boundaries : Governing emerging risks and opportunities," Other publications TiSEM 0aebe291-f890-4a2d-9ab7-d, Tilburg University, School of Economics and Management.
    6. Andrew Feltenstein & Nour Abdul-Razzak & Jeffrey Condon & Biplab Kumar Datta, 2015. "Tax Evasion, the Provision of Public Infrastructure and Growth: A General Equilibrium Approach to Two Very Different Countries, Egypt and Mauritius," Journal of African Economies, Centre for the Study of African Economies, vol. 24(suppl_2), pages 43-72.
    7. O'Donnell, Gus & Oswald, Andrew J., 2015. "National well-being policy and a weighted approach to human feelings," Ecological Economics, Elsevier, vol. 120(C), pages 59-70.
    8. Dario Belluomini, 2016. "Environmental safeguard and Sustainable Development: An Insight into Payments for Ecosystema Services," CEsA Working Papers 140, CEsA - Centre for African and Development Studies.
    9. Koskimäki, Teemu, 2023. "Targeting socioeconomic transformations to achieve global sustainability," Ecological Economics, Elsevier, vol. 211(C).
    10. Fix, Blair, 2018. "The aggregation problem: Implications for ecological economics," Working Papers on Capital as Power 2018/03, Capital As Power - Toward a New Cosmology of Capitalism.
    11. Alonso-Fernández, Pablo & Regueiro-Ferreira, Rosa María, 2024. "The effect of the economic cycles on material requirements: Analysing the dematerialization in developed countries," Ecological Economics, Elsevier, vol. 222(C).
    12. Tallgauer, Maximilian & Schank, Christoph, 2024. "Challenging the growth-prosperity Nexus: Redefining undergraduate economics education for the Anthropocene," Ecological Economics, Elsevier, vol. 216(C).
    13. Watanabe, Chihiro & Naveed, Kashif & Neittaanmäki, Pekka & Tou, Yuji, 2016. "Operationalization of un-captured GDP - Innovation stream under new global mega-trends," Technology in Society, Elsevier, vol. 45(C), pages 58-77.
    14. Virág, Doris & Wiedenhofer, Dominik & Baumgart, André & Matej, Sarah & Krausmann, Fridolin & Min, Jihoon & Rao, Narasimha D. & Haberl, Helmut, 2022. "How much infrastructure is required to support decent mobility for all? An exploratory assessment," Ecological Economics, Elsevier, vol. 200(C).
    15. Ravetti, Chiara & Cambini, Carlo, 2021. "Energy Use Beyond GDP: A Dynamic Panel Analysis with Different Development Indicators," Working Papers 10-2021, Copenhagen Business School, Department of Economics.
    16. Luhua Wu & Shijie Wang & Xiaoyong Bai & Guangjie Luo & Jinfeng Wang & Fei Chen & Chaojun Li & Chen Ran & Sirui Zhang, 2022. "Accelerating the Improvement of Human Well-Being in China through Economic Growth and Policy Adjustment," IJERPH, MDPI, vol. 19(19), pages 1-20, October.
    17. Judith M. Ament & Robin Freeman & Chris Carbone & Anna Vassall & Charlotte Watts, 2020. "An Empirical Analysis of Synergies and Tradeoffs between Sustainable Development Goals," Sustainability, MDPI, vol. 12(20), pages 1-12, October.
    18. Manfred Lenzen & Murukesan Krishnapillai & Deveraux Talagi & Jodie Quintal & Denise Quintal & Ron Grant & Simpson Abraham & Cindy Ehmes & Joy Murray, 2014. "Cultural and socio‐economic determinants of energy consumption on small remote islands," Natural Resources Forum, Blackwell Publishing, vol. 38(1), pages 27-46, February.
    19. Kovács, Antal Ferenc, 2024. "Növekedés és fenntarthatóság a "GDP-n túl" - a Dasgupta-modell empirikus vizsgálata [Growth and sustainability beyond GDP": an empirical analysis of the Dasgupta model]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(9), pages 930-956.
    20. Brian M Donovan & David Moreno Mateos & Jonathan F Osborne & Daniel J Bisaccio, 2014. "Revising the Economic Imperative for US STEM Education," PLOS Biology, Public Library of Science, vol. 12(1), pages 1-5, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spt:admaec:v:12:y:2022:i:5:f:12_5_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Eleftherios Spyromitros-Xioufis (email available below). General contact details of provider: http://www.scienpress.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.