A Comparative Assessment of Sustainable Economic Development among the G20 Countries
A Comparative Assessment of Sustainable Economic Development among the G20 Countries

Author(s): Pallabi Mukherjee, Kanhaiya Ahuja
Subject(s): Economy
Published by: Scientia Moralitas Research Institute
Keywords: Sustainable Development, Gross Domestic Product; Growth; Income; Economic Stability; Employment; Health
Summary/Abstract: The world leaders now aim at establishing an overall development scenario rather than only considering the Gross Domestic Product (GDP) a true reflection of countries well being. This paper aims to depict the recent initiation to evaluate the efficiency of a nation in converting GDP growth to well being in terms of Sustainable Economic Development Assessment scores (SEDA). SEDA measures sustainable development with the help of three broad dimensions namely Economic, sustainability and Environment. The three broad parameters are then subdivided into ten individual dimensions or sub parameters of true development namely Income, Economic Stability, Employment, Health, Education, Infrastructure, Income Inequality, Governance, Civil Society and Environment. This paper aims to compare the G20 nations in terms of their sustainable development present and progress scores. Data of 2016 has been compiled and trend analysis to compute their expected and actual scores and growth of scores have been depicted. Top four countries (G20) in terms of SEDA scores include Australia, Canada, the United States of America and the United Kingdom respectively. Moreover, the nineteen countries and the European Union have been ranked in terms of their individual dimension scores and further compared with the world median only in order to compare amongst them and to analyze their overall position in the world. Nevertheless, Analysis of variance is applied to the data to conclude that there is a significant difference in variance of individual dimension scores and individual country scores amongst the G20 countries of the world.

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