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Economic well-being: Semantic environment and research contexts at a municipal level

Author

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  • Elizaveta A. Belousova

    (Ural State University of Economics, Ekaterinburg, Russia)

Abstract

Mounting concerns over economic success of some territories and poverty of the others, as well as technological progress and complication of environmental and social problems against the backdrop of the globalisation of the means of handling them make studying the characteristics of economic well-being at the local level increasingly relevant. This review paper addresses the question: what does literature tell us about the essence of economic well-being and how do its characteristics reveal themselves in the municipality context? Methodologically, the research rests on the concepts of economic dynamics, and municipal economics. The methods include retrospective analysis, systematisation and generalisation, as well as analysis of the semantic environment used to examine 110 publications indexed in Scopus. The literature suggests there are three approaches to the treatment of the concept “economic well-being”: basic (economic well-being is equivalent to the state of owning enough wealth or income), alternative (extends the basic one with the characteristics of sustainability, inclusiveness, and some others), original (relies on the indirect evidence of economic well-being). The findings allow developing the understanding of the concept “economic well-being of a municipality” as an economically secured state of material and non-material well-being of a territory under local government, which is generated based on a sustainable, spatially inclusive, planned, individualised, conscious reproduction process. The results of the research can be useful for regional and local authorities when targeting local economic development.

Suggested Citation

  • Elizaveta A. Belousova, 2022. "Economic well-being: Semantic environment and research contexts at a municipal level," Journal of New Economy, Ural State University of Economics, vol. 23(4), pages 46-68, January.
    • Handle: RePEc:url:izvest:v:23:y:2022:i:4:p:46-68
    DOI: 10.29141/2658-5081-2022-23-4-3
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    References listed on IDEAS

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    1. Sandra Waddock, 2021. "Wellbeing Economics Narratives for a Sustainable Future," Humanistic Management Journal, Springer, vol. 6(2), pages 151-167, July.
    2. Chiara Elena Dalla & Menon Martina & Perali Federico, 2019. "An Integrated Database to Measure Living Standards," Journal of Official Statistics, Sciendo, vol. 35(3), pages 531-576, September.
    3. Ian McCallum & Christopher Conrad Maximillian Kyba & Juan Carlos Laso Bayas & Elena Moltchanova & Matt Cooper & Jesus Crespo Cuaresma & Shonali Pachauri & Linda See & Olga Danylo & Inian Moorthy & Myr, 2022. "Estimating global economic well-being with unlit settlements," Nature Communications, Nature, vol. 13(1), pages 1-8, December.
    4. Li, Cheng & Zhang, Ying, 2021. "How does housing wealth affect household consumption? Evidence from macro-data with special implications for China," China Economic Review, Elsevier, vol. 69(C).
    5. Mollie Painter-Morland & Geert Demuijnck & Sara Ornati, 2017. "Sustainable Development and Well-Being: A Philosophical Challenge," Journal of Business Ethics, Springer, vol. 146(2), pages 295-311, December.
    6. Janet Gornick & Eva Sierminska, 2021. "Wealth Accumulation and Retirement Preparedness in Cross-National Perspective: A Gendered Analysis of Outcomes among Single Adults," LWS Working papers 36, LIS Cross-National Data Center in Luxembourg.
    7. Laura M. Giurge & Ashley V. Whillans & Colin West, 2020. "Why time poverty matters for individuals, organisations and nations," Nature Human Behaviour, Nature, vol. 4(10), pages 993-1003, October.
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    Cited by:

    1. Elena B. Dvoryadkina & Elizaveta A. Belousova, 2023. "Ideas of well-being economy in the theories of local self-government," Journal of New Economy, Ural State University of Economics, vol. 24(4), pages 107-124, January.

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    More about this item

    Keywords

    municipality; economic well-being; economy of well-being; economic development; material wealth; prosperity; local sustainable development;
    All these keywords.

    JEL classification:

    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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