We are glad to announce the newest publication coming from KU experts: Prof. Andrzej Kozminski, Prof. Adam Noga, Prof. Krzysztof Zagórski, and Katarzyna Piotrowska, Ph.D. titled "The Balanced Developmend Index for Europe's OECD Countries, 1999-2017".
The research project presented in the book is an interdiciplinary cooperation between experts from multiple fields of business: Economics, Sociology, Management, and Statistics.
The authors and their respective fields of expertise:
- Prof. Andrzej Koźmiński (Management)
- Prof. Adam Noga (Economics)
- Prof. Krzysztof Zagórski (Sociology)
- Katarzyna Piotrowska, Ph.D. (Statistics)
"The Balanced Developmend Index for Europe's OECD Countries, 1999-2017" shows that emotions are not a good economic advice and not socially beneficial either. A high emphasis is put on the fact that blindly following people's emotional desires through increased socfial spending, disregarding productivity, leads nowhere.
The authors' first step was following the "beyond GDP paradigm" and buidling a complex composite index of socioeconomic well-being for only one country: Poland. This is how initially the experts produced the Balanced Development Index (BDI), which was made possible by tinkering with bits and pieces of knowledge originating from different scientific disciplines.
The next step was quite ambitious, the authors speculated that BDI dynamics could explain the logic behind a business cycle, which resulted in even more questions about business cycle-related socioeconomic policies and their dependence on equilibrium level. The index was in turn applied to 22 European members of the OECD and EU (in the years 1999-2017) and the authors compared the results on the grounds of a common statistical data basis. The sample is composed of relatively rich, economically developed democratic contries, open and exposed to global competition, all belonging to the European family of cultures and traditions.
If you want to know the results of the authors' research, we highly encourage you to give this publication a read.
The project was actively supported by the Interdiciplinary Center at Kozminski University and was financed from the KU Research fund. Prof. Witold Bielecki, Rector of KU, and Prof. Robert Rządca, Vice-Rector for Research and Faculty Development were actively supporting this initative from the very beginning, which was also appreciated by the authors in their publication.