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On the Welfare Trends: A view from the Sen’s Social Welfare Function

Author

Listed:
  • Riveros-Gavilanes, John Michael

    (M&S Research Hub institute)

  • Al Akayleh, Fayq

    (Arab Open University)

  • Huseynli, Azar

    (Azerbaijan State university)

  • , Oluwaseun Samuel, Oduniyi

    (Texas Tech University, Department of Agricultural and Applied Economics, 2500 Broadway, Lubbock,)

  • M. Hassan, Sherif

    (M&S Research Hub institute)

Abstract

in this article, we use the theoretical construction of Sen’s Social Welfare Function to estimate the trends of welfare for different world regions. The empirical analysis is also complemented by investigating the long-run relationships and the role of income inequality on welfare dynamics. The results suggest heterogeneous relationships across regions between income, inequality, and welfare. Implying that welfare across regions is not similarly influenced by unequal distribution of income, while some regions are positively correlated with improvements in the income distribution leading to better welfare measures. Over the short run, economic growth is the dominant factor in steering welfare.

Suggested Citation

  • Riveros-Gavilanes, John Michael & Al Akayleh, Fayq & Huseynli, Azar & , Oluwaseun Samuel, Oduniyi & M. Hassan, Sherif, 2022. "On the Welfare Trends: A view from the Sen’s Social Welfare Function," MSR Working Papers 3-2022, M&S Research Hub institute.
    • Handle: RePEc:ris:msrwps:2022_003
    as

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    More about this item

    Keywords

    Income inequality; amartya sen index;

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General

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