Template-Type: ReDIF-Article 1.0

Author-Name: Csaba Kandracs
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: kandracscs@mnb.hu
Author-Person:

Author-Name: Renato Ritter
Author-Workplace-Name: Magyar Nemzeti Bank
Author-Email: ritterr@mnb.hu
Author-Person:

Title: Sustainability Indicators - the Boundaries and Alternatives of GDP

Abstract: To quantify economic performance, 'gross domestic product' - a measure created
in the 1930s - is used worldwide. The indicator is suitable for measuring the
performance of an economy and the welfare of individuals at a given point in
time, but its capabilities are limited. The well-being of people, the impact of the
environmental damage caused by production and the sustainability of economic
performance are all issues that fall outside the scope of the metric. Since the
1970s, there has been a debate about the shortcomings of this indicator and its
possible alternatives. Joining the dialogue, our goal was to present the principles of
sustainability, to give an overview of the alternative indicators considered to be more
relevant in Hungary and abroad, and to present the new sustainability indicator of
the Hungarian central bank.

Classification-JEL: D60, O11, O44
Keywords: sustainability principles, GDP, sustainability indicators
Pages: 31-55
Volume: 23
Issue: 2
Year: 2024
File-URL: https://en-hitelintezetiszemle.mnb.hu/letoltes/fer-23-2-st1-kandracs-ritter.pdf
File-Format: Application/pdf
Handle: RePEc:mnb:finrev:v:23:y:2024:i:2:p:31-55