Aproximación al índice de bienestar económico sostenible: caso de estudio Colombia.

Abstract

Abstract: This paper calculates the Sustainable Economic Welfare Index (SEWI), estimated by Daly and Cobb in 1989, for Colombia from 1990 to 2024. The objective is to compare it with Gross Domestic Product (GDP) and determine whether there is development for the population in addition to economic growth. The inclusion of the SEWI analysis encompasses areas that other indicators overlook, including the social, economic, and environmental spheres. The data provided by the SEWI offers a more comprehensive view of the country's development, rather than focusing solely on income generated by the economy, as GDP does. This information is crucial for policymaking, as it allows us to understand how economic development extends beyond the analysis of well-being and sustainability. The Index methodology consists of constructing it from annual series, based on consumption and public social spending, and adjusting them by incorporating variables such as social and environmental costs. Using statistical information from official sources such as the World Bank and Colombia's National Administrative Department of Statistics (DANE), the index allows for the evaluation of real economic well-being and its sustainability over time, beyond GDP growth. The results show a significant improvement in well-being between 1990 (0.40) and 2003 (0.71), followed by a decline in 2008 (0.53) associated with economic and social shocks, and a recovery by 2019 (0.68). This demonstrates a uniform trend in well-being across Colombia and a persistent gap between economic growth and sustainability.