Iranian Journal of Economic Research

Economic Welfare in Iran: An application of Composite Index of Economic Well-Being (CIEWB)

Authors

Mohammad Reza Hosseini 1
Ahmad Jafari Samimi 2

1 PhD Student, Science & Research Branch , Islamic Azad University(IAU) Tehran. Faculty member at Payamenoor University (PNU), Mazandaran, Amol, Iran

2 Professor of, University of Mazandaran, Iran

Abstract
The index of economic well-being (IEWB) covering consumption, wealth, income distribution and economic security is a suitable composite index measuring welfare, growth and development at both partial as well as comprehensive levels .In this study the composite index has been proposed for the first time in Iran and the welfare trend has also been   measured for the available data period 1368-1382. In order to aggregate variables and welfare dimensions we have normalized data using the first year of the first development plan (1368) as the base year. In addition, to estimate the trend of total economic welfare index we have used a uniform weight (0.25) table for each of the four dimensions. The results show that the economic security and consumption were respectively the most important dimensions of economic welfare in Iran .Also, comparing the absolute as well as the relative changes in per capita income and IEWB we found that using per capita income as an index will overestimate the level of economic welfare in Iran. 

Keywords

Economic Welfare
Composite Index of Economic Well-Being (CIEWB)
Economic Security
Iran

  • Receive Date 07 June 2016
  • First Publish Date 07 June 2016

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