Social aspects of economy performance in European countries

Pitoňáková, Zuzana

The diploma thesis deals with monetary and social view on economy performance reflected by GDP per capita and alternative measures to GDP. The main objective of the thesis is to determine relationship between GDP per capita and alternative measures available for 28 member states of EU and propose a new alternative index related to EU current social issues. Within observed periods of time there are no significant changes in correlations however the increasing complexity of alternatives or sustainability issue weaken the correlation or prove no relationship. The hypothesis about Easterlin paradox is not confirmed. Clustering brings ambiguous results but fully developed countries seem to be more homogeneous than rest of the EU countries. In new proposed index also those developed countries are placed in the top of the ranking approached by Slovenia and Czech Republic and the most significant change in the ranking compared to GDP or HDI rank is observed by Greece, Cyprus and Ireland.

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