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The article devoted to analysis of sustainable development indicators (SDI) evolution and peculiarities of designing the set of SDI for Ukraine, Moldova, Georgia and other countries. The paper provides an overview of evolution and application experience of sustainability measuring practice. Researchers analyze the directions of measurement approach progress. Modern trends of indicators' using are explored. Ways of overcoming the lack of harmonization in variety of conceptual and organizational frameworks which are used by different countries are viewed. [ABSTRACT FROM AUTHOR]

The paper builds up from a review of some expected, but other quite surprising results regarding country estimates for the year 2000 of genuine saving, a sustainability indicator developed by a World Bank research team. We examine this indicator, founded on neoclassical welfare theory, and discuss one of its major problems. Theoretical developments from ecological economics are then considered, together with insights from Georgescu-Roegen's approach to the production process, in search for an alternative approach. A model with potentially fruitful contributions in this direction is reviewed; it points the course efforts could take enable sustainability evaluations based on a more realistic set of interrelated monetary and biophysical indicators. [ABSTRACT FROM AUTHOR]