Naslov
Wealth and Welfare - Development of a Gross National Product (GNP) and Gini Index Impact Regression Model

Autori
Lešina, Mario ; Hižak, Jurica ; Gotal Dmitrović, Lovorka ; Vusić, Damir

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

Izvornik
Economic and Social Development 79th International Scientific Conference on Economic and Social Development Book of Proceedings / Machrafi, Mustapha ; Uckar, Dean - Rabat, Morrocco : VADEA, 2022, 86-96

Skup
79th International Scientific Conference on Economic and Social Development

Mjesto i datum
Rabat, Maroko, 25.03.2022. - 26.03.2022

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
correlation ; new ranking ; transition points ; world economy

Sažetak
Economic growth does not necessarily mean development as well. As an example, Russia has achieved high growth rates through the exploitation of mineral resources. The gross national product (GNP) per capita of Russia has grown, but this growth has not been evenly distributed. Prof. Joseph Stiglitz, an American economist and public policy analyst, argues that unless economic growth is reflected in rising standards, development has failed. Thus, a high GNP per capita does not necessarily mean prosperity and welfare. The equality of society in terms of participation in national wealth is measured by the Gini index as a measure of statistical dispersion intended to represent income inequality or wealth inequality within a nation or a social group. If the Gini Index is 1, only one person owns all the wealth, if it is 0, everyone owns the same. This parameter alone is not overly important because, as an example, Sierra Leone and Burkina Fasso have very low Gini indices, but this means that they are all equally poor. On the other hand, petrodollar economies, if they show the Gini index at all, have extremely high GNP per capita values, but everything is concentrated on a small number of people. The paper compares the GNP per capita and Gini index using statistical methods. After proving the correlation, a model was developed which performed a new ranking of the world economy. It has been proven that the uneven distribution of income relativizes its level, and certain transition points of decline, ie growth of the Gini index, have been determined.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Informacijske i komunikacijske znanosti, Interdisciplinarne društvene znanosti

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