Open AccessGDP and Economic Well-being: New Evidence from Selected Developed Countries
Author(s) -
Ahmad Jafari Samimi
Publication year - 2011
Publication title -
information management and business review
Language(s) - English
Resource type - Journals
ISSN - 2220-3796
DOI - 10.22610/imbr.v3i2.918
Subject(s) - economics , index (typography) , real gross domestic product , gross domestic product , per capita , granger causality , econometrics , macroeconomics , monetary economics , demography , population , sociology , world wide web , computer science
GDP per capita often used in judgment about countries economic well-being, but any judgment based on it ignores some issues, therefore argues that a better index of economic well-being is IEWB (Index of Economic Well-being). Stevenson and Wolfers (2008), and Osberg and Sharpe (2001), mentioned that there is a positive relationship between GDP per capita and IEWB .in this paper we study a causal relationship between them; to this purpose we use the data of selected high income countries during 1980-2007.Finding shows that GDP is granger causal of IEWB except Norway that there aren’t any causal relationship between GDP and IEWB.