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Welfare Conversion Effects of Economic Growth Based on Comparison between China and the World
Author(s): 
Pages: 3-24
Year: Issue:  8
Journal: The Journal of Quantitative & Technical Economics

Keyword:  Welfare IndexWelfare EfficiencySociety Effort;
Abstract: The paper has an in-depth quantitative analysis on the welfare conversion of 55 major countries in the world in view of Sen’s welfare concepts and Daly’s economic growth performance ideas.The research results show that:There are some opposite characteristics on the trend of Sen’s welfare index and Pigou’s welfare index.Due to putting excessive focus on commodities and its utility,the concept of Pigou’s welfare has been widely criticized,therefore,Sen’s concept of welfare may be more correct guidance significance for policy.Clean inputs will have different impact on welfare conversion efficiency in different types of countries,which significantly promote the improvement of Chinese social welfare.National welfare conversion,relative to their own level of economic growth and efficiency of welfare conversion,has an optimal level.China rapidly enhance its efforts to promote the level of welfare conversion from 2010,Chinese welfare almost closes to its optimal level in 2012.Compared to other countries in the world,China is now able to more easily achieve its optimal state of socio-economic development in harmony.
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