clarke-comparingvictoriasgenuine-2006.pdf (1.1 MB)
Comparing Victoria's genuine progress with that of the Rest-of-Australia
While a range of exogenous and endogenous factors affect the standard of living of most Australians in a more-or-less uniform way, the different social and economic-policies of each state government are likely to affect the levels of sustainable well-being experienced across the various states. With this in mind, a Genuine Progress Indicator (GPI) - a newly devised measure of sustainable well-being - is calculated for Victoria and the Rest- of- Australia (Australia minus Victoria) for the period 1986-2003. The GPI takes account of the various costs and benefits of economic activity in order to investigate the impact of a growing state or national economy on sustainable well-being.
By analysing the GPI results and the policies undertaken by the Victorian government, it is possible to determine what the state of Victoria is doing differently to the Rest-of-Australia that might be beneficial or detrimental to sustainable well-being. While our study reveals that Victoria is performing better than the Rest-of-Australia, it also highlights flaws in the policy-making process that have resulted in Victoria's Gross State Product (GSP) overstating its genuine progress.
By analysing the GPI results and the policies undertaken by the Victorian government, it is possible to determine what the state of Victoria is doing differently to the Rest-of-Australia that might be beneficial or detrimental to sustainable well-being. While our study reveals that Victoria is performing better than the Rest-of-Australia, it also highlights flaws in the policy-making process that have resulted in Victoria's Gross State Product (GSP) overstating its genuine progress.
History
Journal
Journal of economic & social policyVolume
10Issue
2Season
WinterPagination
115 - 138Publisher
Southern Cross University, Centre for Policy Research and the Faculty of Business and ComputingLocation
Canberra, A.C.T.ISSN
1325-2224Language
engPublication classification
C1.1 Refereed article in a scholarly journalCopyright notice
2006, Southern Cross University, Centre for Policy ResearchUsage metrics
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