@article{neinsk2017economic,
  title = {Economic Growth in the EU:  Eco-Social Aspects},
  author = {Eduard Nežinský and Elena Fifeková},
  year = 2017,
  url = {https://ibimapublishing.com/articles/JEERBE/2017/596997/},
  journal = {Journal of Eastern Europe Research in Business and Economics},
  volume = 2017,
  pages = 12,
  doi = 10.5171/2017.596997,
  abstract = {Economic policy is always bound to simultaneously pursuing multiple goals. In the framework of the European union, several benchmarks are set to reflect on meeting three main targets – maintaining economic growth accompanied by environmental and social sustainability which are the aspects of evaluating socio-economic performance beyond GDP as proposed by Stiglitz Report. In this paper, we construct augmented indicator of economic performance by first decoupling economic growth from the ecological and social development assessing the individual performance of each of the two dimensions by means of data envelopment analysis. Subsequently, we put those together and arrive thus at a composite indicator of social welfare. The results of technical, environmental, and social sub-models reveal high relative performance levels of advanced European countries. Equally, the figures testify to the lagging behind of the new Member states, above all, with respect to their social dimension. The findings achieved may serve as a theoretical background for decision-making processes. },
  keywords = {eco-efficiency, data envelopment analysis, SBM model, optimization, social welfare.},
  note = Article ID: 596997
}