scholarly journals EVALUATION OF THE CORRELATION BETWEEN THE LIVING STANDARDS LEVEL, SOCIO-ECONOMIC AND DEMOGRAPHIC PROCESSES IN UKRAINE

2021 ◽  
Vol 2 (37) ◽  
pp. 482-492
Author(s):  
S. Burlan ◽  
N. Katkova ◽  
S. Marushchak
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Population Growth ◽  
Demographic Change ◽  
Well Being ◽  
Living Standards ◽  
Disposable Income ◽  
Social Progress ◽  
Domestic Product ◽  
Demographic Indicators

Abstract. The aim of the study is to quantify the correlation between economic growth, social progress, demographic change, and living standards. To establish the correlation between social and economic processes the indicators were selected, using correlation-regression analysis the correlation between them was determined. The dynamics and connections tightness of 72 social and economic and demographic indicators based on official statistics for 17 years were analyzed in aggregate. As a result of the study revealed a close ligament between population’s lifetime, population growth and economic development and well-being, in particular, between gross domestic product per capita and total fertility rate, average population age, quintile ratio of funds that differentiate the degree of differentiation of funds people. The tight correlation between the average age of population, the «monetary» well-being indicators of population (the average amount of the assigned pension, the average monthly wage, the disposable income per person) and consumption (the volume of industrial production, retail turnover) were also determined. It has been found that the change in disposable income per person is closely related to a number of demographic indicators, such as population, natural population growth (reduction), and average age of population. The study also found that the growth of gross domestic product does not depend directly on the population and the number of people employed in the economy. It is determined that there is a medium correlation between indicators of crimes detected and the number of higher education institutions and the number of students in these institutions. There is also a lack of correlation between unemployment and crime rates with socio-economic indicators, although they should be. Keywords: correlation, correlation coefficient, indicators, living standard, social progress, economic growth, demographic change, evaluation. JEL Classification O11, O15, P36 Formulas: 0; fig.: 1; tabl.: 4; bibl.: 16.

scholarly journals Perspectives Measuring more than just economic growth to improve well-being

2020 ◽  
Author(s):  
Shaun Danielli ◽  
Patrice Donnelly ◽  
Tom Coffey ◽  
Schellion Horn ◽  
Hutan Ashrafian ◽  
...  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Gross Domestic Product ◽  
Well Being ◽  
Good Health ◽  
Domestic Product ◽  
Economic Prosperity ◽  
Sustainable Economic Development ◽  
The Uk ◽  
Health And Well Being

Abstract It’s official: The UK is in a recession. The economy has suffered its biggest slump on record with a drop in gross domestic product (GDP) of 20.4%. 1 This is going to have a significant impact on our health and well-being. It risks creating a spiralling decay as we know good health is not only a consequence, but also a condition for sustained and sustainable economic development. 2 In this way, the health of a nation creates a virtuous circle of improved health and improved economic prosperity. How we measure prosperity is therefore important and needs to be considered.

Population as a GDP Proxy in Adam Smith

2021 ◽  
Vol 19 (2) ◽  
pp. 115-123
Author(s):  
Maria Pia Paganelli
Keyword(s):  
Economic Growth ◽  
Eighteenth Century ◽  
Gross Domestic Product ◽  
Population Growth ◽  
Adam Smith ◽  
Domestic Product ◽  
Balance Of Trade ◽  
Over Time ◽  
Growing Population

How do we measure economic growth? In the eighteenth century, well before the birth of Gross Domestic Product commonly used today, looking at the sign of the balance of trade was a way to take the pulse of a nation's economy. Adam Smith rejects this measure and instead suggests that we should look at population growth. Nations that are able to produce enough to support the life of a growing population have growing economies, nations with constant population have stagnant economies, and nations that face a declining population have contracting economies. Thus, population for Adam Smith is a proxy for our Gross Domestic Product, indicating the changes in production in a country over time.

scholarly journals economic development

2019 ◽  
Author(s):  
cut jussara mufda
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Income Distribution ◽  
Gross Domestic Product ◽  
Distribution System ◽  
Living Standards ◽  
Gdp Per Capita ◽  
Domestic Product ◽  
Goods And Services ◽  
Per Capita

The cause of economic growth but not followed by the improvement of the income distribution system is because economic growth is measured by an increase in GDP (Gross Gross Domestic Product), namely the number of products in the form of goods and services produced within a country's territory in one year.Gross Domestic Product is always considered to be an indicator or determinant of living standards in a country. Therefore it is necessary to calculate GDP per capita. The calculation of Indonesia's GDP is carried out every year and always changes. The amount of GDP in Indonesia in 2016 is approximately 3,604 per capita and in 2018 it has decreased to 3,788 per capita after 2017 has increased to 3,875 per capita.Economic growth in Indonesia continues to increase along with the 4 components above which continue to be improved. Because GDP is a standard that has become a benchmark for economic growth, the 4 components that are continually being improved also encourage economic growth in Indonesia. This can be seen from 2019 Indonesia's GDP which increased compared to 2018. Investment that continues to increase then also increases GDP per capita in Indonesia in 2019.

Long-run economic growth

2021 ◽  
pp. 9-27
Author(s):  
Jesper Rangvid
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Population Growth ◽  
Economic Activity ◽  
Capita Income ◽  
Asset Markets ◽  
Domestic Product ◽  
Long Run ◽  
International Data ◽  
Per Capita

This chapter explains what we understand by ‘aggregate economic activity’, i.e. Gross Domestic Product, per capita income, population growth, and related concepts that will all be used repeatedly throughout the book. The chapter shows how economic activity has developed historically, using both US and international data. The chapter does not analyze what causes long-run economic growth to be high or low, as subsequent chapters deal with this. Instead, the chapter deals with the concepts and stylized facts such that thesecan be used when analysing their implications for asset markets in subsequent chapters.

Economics of Subjective Well-Being

2018 ◽  
Author(s):  
Anke C Plagnol ◽  
Lucia Macchia
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Well Being ◽  
Domestic Product ◽  
Subjective Well Being ◽  
Easterlin Paradox ◽  
Individual Level ◽  
Seminal Article ◽  
The Individual ◽  
Over Time

In 1974 economist Richard A. Easterlin asked in his seminal article “Does economic growth improve the human lot?” His answer to this question was a resounding no. The paper described what was later to be known as the Easterlin paradox, which is the observation that at one point in time rich nations are on average happier than poor nations, but over time there is no relationship between happiness and gross domestic product (GDP). The Easterlin paradox can also be found at the individual level. Easterlin’s paper is often described as starting the field of the economics of subjective well-being. The Easterlin paradox has been the topic of many published articles, with numerous studies supporting the original findings and some refuting them. This chapter describes the Easterlin paradox and recent evidence confirming or rejecting its existence. Other developments in the economics of subjective well-being are also discussed.

scholarly journals The importance of technological progress in measuring economic growth in Bosnia and Herzegovina

2020 ◽  
Vol 12 (1) ◽  
pp. 35-55
Author(s):  
Faruk Hadžić
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Social Services ◽  
Technological Progress ◽  
Value Added ◽  
Well Being ◽  
Economic Thought ◽  
Domestic Product ◽  
Knowledge Based ◽  
Gross Value Added

Economic growth is one of the most important concepts in the world economy. Although some authors critically believe that the level and rates of economic growth do not necessarily reflect the actual standard of living, it still remains the main way to measure a country's well-being. Different views on the topic of economic growth, as well as the factors that influence it, have been present throughout the history of economic thought from the very beginning. Unlike many theories of economic growth, which believe that in the long run there will be diminishing returns on factors of production such as labor and capital, Paul Romer in his theory of endogenous growth believes that technological progress, through knowledge accumulation, idea creation and innovation, leads to increasing returns, and thus contributes more to long-term economic growth, unlike other factors. In this paper, on the example of economic growth in B&H, the hypothesis that the activities of knowledge-based services contribute more to the gross domestic product, compared to other sectors was tested. To prove the hypothesis, a multiple linear regression model was made based on a time series of 48 consecutive quarterly values of B&H gross domestic product and sectoral gross value added according to the income and production approach. In the model, activities were grouped into those that are predominantly labor-intensive, knowledge-based services, personal and social services, and other activities. The results showed that the average value of gross value added per worker employed in the sectors of knowledge-based services has a 2.5 higher contribution compared to a worker in the labour-intensive sectors and a 2.47 higher contribution compared to one worker in the personal and social services segment. Also, tests of the implemented model show that additional employment in the sectors of knowledge-based services leads to accelerated economic growth in B&H.

LIVING STANDARDS AND PROPORTIONS AFFECTING FOR STRUCTURAL CHANGES IN THE ECONOMY

2020 ◽  
Vol 2 (9) ◽  
pp. 42-46
Author(s):  
G. T. PULATOVA ◽  
◽  
T. A. KADYROV ◽  
Keyword(s):  
Economic Growth ◽  
Theoretical Analysis ◽  
Structural Changes ◽  
Well Being ◽  
The State ◽  
Living Standards ◽  
Total Production ◽  
Direct Connection ◽  
Fund Industry ◽  
Time Changes

This article considers the direct connection of the state of living of the population with the structures of the economy. In this regard, it is noted that the territorial aspects of the structure of the economy are also factors in shaping the structure of people 's needs, despite the fact that the latter are poorly structured. The study showed that the extent of structural changes in the economy, apart from the needs of the population, is affected by such critical proportions as the ratio of production to consumption, the savings fund to consumption fund, industry and agriculture, growth of production and transport development, growth of cash incomes of the population and their commodity coverage. In total production theoretical analysis has also shown that structural changes in the economy depend on the level of change in the share of each sector of the economy At the same time, changes also affect economic growth and human well-being in different ways.

Trends of Private Consumption in the Restructuring of China’s Economy

2015 ◽  
Vol 07 (04) ◽  
pp. 52-64
Author(s):  
Chien-Hsun CHEN
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Private Consumption ◽  
Decisive Role ◽  
Domestic Product ◽  
Domestic Consumption ◽  
Labour Income ◽  
Rapid Economic Growth ◽  
Labour Share ◽  
China’S Economy

The benefits deriving from rapid economic growth have chiefly accrued to capital returns. Consequently, the decline in the share of Chinese gross domestic product (GDP) accounted for by labour income has been most pronounced. To sustain growth, China will have to ensure robust consumption. Increasing the labour share in GDP and hence promoting domestic consumption will play a decisive role in rebalancing China’s economy.

The impacts of income inequality on the gross domestic product under direct taxation: evidence from emerging market economies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ahmet Eren Yıldırım ◽  
Mete Dibo
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Income Inequality ◽  
Gross Domestic Product ◽  
Emerging Market ◽  
Domestic Product ◽  
Emerging Market Economies ◽  
Content Type ◽  
Market Economies ◽  
Direct Taxation

PurposeThis study analyzes the impacts of income inequality after direct taxation on the gross domestic product as a fiscal policy tool in the development process.Design/methodology/approachThe model of the study is based on Munielo-Gallo and Roca-Sagales (2013), which examined the fiscal policy, income inequality and economic growth simultaneously. The study uses two models to analyze the relationship between income inequality and gross domestic production under direct taxation by employing autoregressive distributed lag (ARDL) model for selected emerging market economies.FindingEmpirical results reveal a negative long-run relationship between variables in some countries in line with the literature, despite a positive relationship in others. Moreover, the results exhibit the negative impact of income inequality after direct taxation on the gross domestic product decreases.Originality/valueResults of the study highlight the importance of direct taxation on income inequality concerning the reflects on economic growth. It suggests that when the income distribution is fairer, it may positively affect the gross domestic product. The study provides a new perspective to the related literature by investigating the role of income inequality under direct taxation for gross domestic product.

Financial Deepening, Financial Intermediation and Nigerian Economic Growth: Time Variant Analysis

2019 ◽  
pp. 60-73
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Gross Domestic Product ◽  
Private Sector ◽  
Money Supply ◽  
Domestic Product ◽  
Financial Deepening ◽  
Causality Test ◽  
Real Gross Domestic Product ◽  
Long Run

This study examines financial deepening, financial intermediation and Nigerian economic growth. The main purpose is to examine the relationship between financial deepening and Nigerian economic growth while the specific objectives are to examine the impact of interest rate, capital market development, rational savings, credit to private sector and broad money supply on the growth of Nigerian. Secondary data of the variables were sourced from the publications of Central Bank of Nigeria (CBN) from 1981-2017. Nigerian Real Gross Domestic Product (RGDP) was used as dependent variable while Broad money supply (M2), Credit to Private Sector (CPS), National Savings (NS), Capital Market Capitalization (CAMP) and Interest Rate (INTR) was used as independent variables. Multiple regressions with E-view statistical package were used as data analysis techniques. Cointegration test, Augmented Dickey Fuller Unit Root Test, Granger causality test was used to determine the relationship between the variable in the long-run and short-run. R2, F – statistics and β Coefficients were used to determine the extent to which the independent variable affects the dependent variable. It was found from the regression result that Broad Money Supply, credit to private sector have position effect on the growth of Nigerian Real Gross Domestic Product while National Savings, Capitalization and Interest Rate on Nigeria Real Gross Domestic Product. The co-integration test revealed presence of long-run relationship among the variables, the stationary test indicated stationarity of the variables at level. The Granger Causality Test found bi – variant relationship from the dependent to the independent and from the independent to the dependent variables. The regression summary found 99.0% explained variation, 560.5031, F – statistics and probability of 0.00000. From the above, the study concludes that financial deepening has significant relationships with Nigerian economic growth. We recommend that government and the financial sector operators should make policies that will further deepen the functions of the financial system to enhance Nigerian economic growth.

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