SUSTAINABLE ECONOMIC DEVELOPMENT: THE RELATION BETWEEN ECONOMIC GROWTH AND QUALITY OF LIFE IN V4 AND AUSTRIA

SUSTAINABLE ECONOMIC DEVELOPMENT: THE RELATION BETWEEN ECONOMIC GROWTH AND QUALITY OF LIFE IN V4 AND AUSTRIA

The future belongs to sustainability. It isbecoming more important to achieve sustainable economicdevelopment. Therefore, in addition to the countries´economic performance, the continuous improvement ofthe quality of life should also be essential. The set topic iscrucial, even necessary to achieve t...

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Bibliographic Details
Published in:Economics & sociology Vol. 14; no. 3; pp. 341 - 357
Main Authors: Rajnoha, Rastislav, Lesníková, Petra, Vahančík, Jozef
Format: Journal Article
Language:English
Published: Ternopil Centre of Sociological Research 01-01-2021
Fundacja Centrum Badań Socjologicznych
Centre of Sociological Research (NGO)
Centre of Sociological Research, Szczecin, Poland
Subjects:
Austria
Economic conditions
Economic development
Economic growth
Economy
GDP
Gender
Gross Domestic Product
Hypotheses
National Economy
Per capita
Productivity
Quality of life
Regression analysis
social performance
Social Sciences
Society
Socio-Economic Research
Sociology
Sustainability
Sustainable development
sustainable economic development
Trends
Austria
Europe
social performance
Austria
sustainable economic development
economic growth
linear regression analysis
quality of life
V4
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Summary:The future belongs to sustainability. It isbecoming more important to achieve sustainable economicdevelopment. Therefore, in addition to the countries´economic performance, the continuous improvement ofthe quality of life should also be essential. The set topic iscrucial, even necessary to achieve the ambitious goals oftoday's society in terms of sustainable economicdevelopment. The need for solution highlights the possiblechanges in the social aspect of economic development.Following this challenge, the objective of the paper is toevaluate the development of 26 quality of life indicatorsfrom selected 6 categories in the V4 countries and Austriaas a research benchmark country between 2010-2019 andto identify the impact of the level of GDP on theseindicators. The descriptive statistics and linear regressionanalysis are used. Most life quality indicators reveal that thelevel of the V4 countries is better than the EU 27 averageor the same. In conclusion, 61.5% of variables in allcountries related to research hypothesis was confirmed,which means that the GDP growth had a positive effecton the improvement of the quality of life within thesevariables. However, comparing to Austria as a highlydeveloped country, a significant sustainable developmentgap can be still observed in V4.
ISSN:2071-789X
2306-3459
DOI:10.14254/2071-789X.2021/14-3/18