The Multidimensional index of economic well-being for Central and Eastern European countries
ENThis study estimates the index of economic well-being (IEWB) for fifteen Central European countries over the period 1991–2010, comparing this index with GDP at per capita level and growth rate. The paper reveals that certain components of the IEWB, which are not included in the measurement of GDP per capita, have grown slower and thus hampered the growth of overall economic well-being relative to GDP per capita growth. If the economic well-being of citizens is not growing as fast as an increase in GDP per capita in a specific country, it could mean there are some problems in social policy and recent changes. IEWB could thus be considered as an indicator of social policy based on consumption, sustainability, equity and security, the main idea of which is to reach the stage where there is a minimal difference between GDP per capita growth rate and well-being indicators.
