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Going beyond GDP: empirical findings

In: Handbook of Research on Economic and Social Well-Being

Author

Listed:
  • Carlotta Balestra
  • Romina Boarini
  • Nicolas Ruiz

Abstract

The chapter presents an overview of several challenging issues related to the assessment of well-being through measures aimed at looking ‘beyond GDP’. Although designed to measure aggregate economic performance from a macroeconomic perspective, gross domestoc product (GDP) has been extensively used to measure welfare, with a number of problems and limitations. Starting from the mid-1970s, criticisms to this approach encouraged early attempts to create alternative measures for GDP. The Great Recession and inequality considerations further prompted the discussion through national and international initiatives. These gave birth to a set of measures and frameworks which focus more on the individuals, entailing considerations on the distribution of well-being, multidimensionality and subjective perceptions. The chapter reviews some of these measures, addressing the main issues and techniques as well as outlining the greatest statistical challenges linked to the measurement of progress and well-being.

Suggested Citation

  • Carlotta Balestra & Romina Boarini & Nicolas Ruiz, 2018. "Going beyond GDP: empirical findings," Chapters, in: Conchita D’Ambrosio (ed.), Handbook of Research on Economic and Social Well-Being, chapter 2, pages 52-103, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:15128_2
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