The evaluation of economic development index: theory and research

The purpose of this research is to characterize and evaluate the results of economic development. In order to analyze the changes of economic development in different countries the index of economic development as share of sustainable development is used. The research characterizes economic development of two neighborhood countries – Lithuania and Poland. Empirical analysis of satisfactory cases of Lithuania and Poland during the period of the years 2005-2012 are examined. The point of this research – to analyze a country’s main macroeconomic development indicators and unify them creating an economical development index. The year 2005 was taken as the base year.