Sustainable Equilibrium Index (SEI): A Measure to Analyze the Systemic Dependences in Territorial Development

Abstract

Regional prosperity not only depends on economic issues but also in social and environmental aspects. Achieving a sustainable growth path in the long term implies “coherence” in the advancement of these three dimensions (avoiding potential imbalances threatening that path). Here the notion of “sustainable” competitiveness arises. In this context, the objective of this paper is to demonstrate, through a quantitative methodology, that the coherence of economic, social and environmental dimensions is in fact at the core of regional prosperity and regional gap. To do so, the paper analyses the systemic interdependencies between these three fields using a quantitative methodological approach: the Sustainable Equilibrium Index (SEI). The results include the overall estimates for the SEI in each Spanish region as well as a detailed decomposition of the index by economic, social and environmental fields. Finally, recommendations are made to consider SEI as a metric for the upcoming RIS3 strategies.