International Journal of New Developments in Engineering and Society, 2021, 5(1); doi: 10.25236/IJNDES.2021.050102.
Lichao Chen1, Xuantong Huang2, Qi Su3
1Cass Business School, City, University of London, EC1V 0HB, United Kingdom
2School of Mathematics and Statistics, Xi’an Jiaotong University, Xi’an, 710049, China
3Guangdong Country Garden School, Foshan, 528300, China
This paper is designed to assess the changes of GDP and welfare across countries over the period 2007 to 2017. The conceptual framework of the paper is based on Jones and Klenow (2016). The welfare numbers of 2007 are updated and work out the welfare results of 2017. After analyzing the results, it can be found that during the period, the growth in GDP per capita is often the driving reason for the rise in the level of welfare. However, the extent to which income increase brings up welfare increase depends.
Level of wealth; GDP per capita; life expectancy; consumption; leisure; consumption inequality
Lichao Chen, Xuantong Huang, Qi Su. Welfare and GDP across Countries: 2007-2017. International Journal of New Developments in Engineering and Society (2021) Vol.5, Issue 1: 5-14. https://doi.org/10.25236/IJNDES.2021.050102.
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