Tran, Van Hoa (2011) A Note on: Alternative Quantitative Measurements of Growth and Welfare for Policy Analysis. International Economics Studies, 36 (1). pp. 69-71. ISSN 2008-9643

Abstract

Measuring development, growth and welfare is an important issue in normative and positive economics. The issue is more critical in developing economies where a good statistical indicator of income, living standard or poverty is crucial for decision-makers in corporate, government, non-government and international organizations in their for-profit or non-profit plans to promote business and trade, enhance growth and welfare, and reduce poverty in needy countries. In the current literature on development economics, trade liberalization for example has been encouraged through official negotiations and agreements and supported by the extensive technical programs of the International Monetary Fund, the World Bank, the Asian Development Bank or the World Trade Organisation and with substantial human and financial resources, to increase growth and raise income or reduce poverty in open but low-income economies.

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