Construction and Evolution of a Multidimensional Well-Being Index for the Spanish Regions

The study presented here is an attempt to calculate a comparative multidimensional index of economic well-being for the Spanish Autonomous Communities. Based on the dimensions of adjusted consumption, real wealth, equity and economic security per inhabitant, we obtain one relative index using a system of uniform weightings, a second resulting from a factor analysis and a third provided by a DEA analysis. We elaborate the index for the year 2000 and for 2006, thereby providing the relative results with greater robustness and permitting some conclusions to be reached with regard to the evolution over time of the index.