SYSTEMATIZATION OF THE APPROACHES ASSESSING SOCIO-ECONOMIC DEVELOPMENT OF THE COUNTRIES BY USING WELFARE INDEX

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Abstract


Nowadays there is a lack of a unified approach to the welfare definition and methods for its assessment, therefore this article combines different welfare indices, analyzes their features, as well as the indicators that they include.The classification of these indices in accordance with the three theoretical approaches is suggested: objective, which is based on the statistical data; subjective, which is based on the subjective opinion of the population and objective-subjective, which combines both of the above mentioned approaches. The relevance of well-being indices is analyzed; it is also proven the interrelation of well-being indices with the traditional socio-economic indicators. It is defined that the correct assessment of well-being achieved by using objective-subjective indices, which take into account the statistical data as well as subjective opinion of the population.


About the authors

S A Balashova

Peoples’ Friendship University of Russia

Author for correspondence.
Email: balashova_sa@pfur.ru
Miklukho-Maklaya str., 6, Moscow, Russia, 117198

Balashova S.A. Candidate of physico-mathematical sciences, Associate Professor of the Department of Economic and Mathematical Modeling at Peoples’ Friendship University of Russia.

E O Nakhatakyan

Peoples’ Friendship University of Russia

Email: Kate-nakhatakyan@mail.ru
Miklukho-Maklaya str., 6, Moscow, Russia, 117198

Nakhakakyan E.O. Student of the Institute of World Economy and Business at Peoples’ Friendship University of Russia.

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Copyright (c) 2017 Balashova S.A., Nakhatakyan E.O.

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