Comparison of the socio-economic sustainability performance of OECD countries

Abstract

Socio-economic Sustainability (SES) enables an organisation or a country to pursue economic growth in the present without undermining the ability of future generations to meet their needs, especially in terms of curtailing the depletion or destruction of environmental resources. Ensuring SES in a country helps shape the conditions for long-term economic and social development while conserving the environment. This study compares the SES performance of 38 member countries of the Organisation for Economic Cooperation and Development (OECD) by applying a multi-criteria approach. This research aims to make inferences about SES in developed and developing countries and promote change in line with sustainable development goals. A technique known as Multi-Attributive Border Approximation area Comparison (MABAC), considered a valuable and reliable decision-making tool for rational management, was applied. In practice, socio-economic performance indicators obtained from the United Nations Development Programme (UNDP) were examined to evaluate the performance of the 38 OECD countries included based on nine criteria. The study found that, of those 38, the highest performings were Korea and Japan, and the lowest was Colombia and Mexico.