Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/152298
Title: Using cost-benefit analysis in developed and developing countries : is it the same?
Authors: Quah, Euston
Keywords: Social sciences::Economic development
Issue Date: 2017
Publisher: Monetary Authority of Singapore
Source: Quah, E. (2017). Using cost-benefit analysis in developed and developing countries : is it the same?. Macroeconomic Review, volume XVI, issue 1, April 2017. https://hdl.handle.net/10356/152298
Series/Report no.: Macroeconomic Review, volume XVI, issue 1, April 2017
Abstract: Nobel laureate and economist Simon Kuznets put forth the concept of gross domestic product (GDP) in response to a need for good data in public policy planning in the 1930s. Since then, policymakers have increasingly relied upon GDP and other national income indicators. If only one macro indicator is available in any given country, chances are the indicator is the country’s GDP. However, as Kuznets himself and other critics of GDP have pointed out, national income statistics are not ideal measures of welfare (Kuznets, 1934). Of the many criticisms, two of the more prominent are the lack of consideration of equity and the fact that these statistics only measure economic activity and do not account for non-economic costs of growth (Kuznets, 1962).
URI: https://hdl.handle.net/10356/152298
Rights: © 2017 The Author. All rights reserved. This paper was published by Economic Policy Group, Monetary Authority of Singapore in Macroeconomic Review and is made available with permission of Monetary Authority of Singapore.
Fulltext Permission: open
Fulltext Availability: With Fulltext
Appears in Collections:SSS Other Publications

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