Naslov
Empirical bond between the Happiness Index, GDP and Green GDP

Autori
Tomić, Daniel ; Stjepanović, Saša

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Economic and Social Development / Tosović-Stevanović, A. ; Trifunović, D. ; Maloletko, A. - Varaždin : Varaždin Development and Entrepreneurship Agency, Megatrend University, University North, Faculty of Management (Warsaw) and Faculty of Law, Economics and Social Sciences Sale - Mohammed V University in Rabat, 2019, 65-78

ISBN
9-771849-753-006

Skup
41st International Scientific Conference on Economic and Social Development

Mjesto i datum
Beograd, Srbija, 23.05.2019. - 24.05.2019

Vrsta sudjelovanja
Plenarno

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Happiness index, GDP, Green GDP, spectral analysis, cross-country analysis

Sažetak
Traditionally, the leading indicator of economic progress is GDP, with all of its known shortcomings. As a variety of alternatives, more and more indicators of economic growth and development are gaining ground with measures that are corrected for social and environmental costs. One of these alternatives is the so-called Green GDP as a measure of economic progress with pronounced ecological components. Green GDP is an alternative way for quantification and measurement of monetary impact of the social and environmental damage caused by a country’s economic growth. Through this paper, we want to relate the Happiness index with the standard GDP measure and the alternative measure, Green GDP. Namely, the Happiness index is used as a measure that generally shows the satisfaction of the inhabitants of a country in the conditions they live in for it is consisted of six key variables in a country's economy, namely income, expected life, social security, freedom, trust, and generosity. The aim of this paper is to find out whether there is a significant bond between the Happiness index and economic growth indicators or whether there is a possible cyclical correlation between these variables. For this purpose, we used standard statistical tools and spectral analysis technique. Thus, we came to the conclusion that the environmental component represents an important part of the satisfaction and happiness of the people, i.e., the awareness about the burning ecological problems in the world is becoming more and more important for the economy, both on the national and personal level.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA