Government Effectiveness, Education, Economic Development And Well-Being: Analysis Of European Countries In Comparison With The United States And Canada, 2000-2007
AbstractIn this article we present an econometric analysis of the relationship between several indicators of economic development and wellbeing in Europe, the United States and Canada. We calculate a compound index of several indicators based on three groups: 1) Life satisfaction and income per capita, 2) governance indicators based on World Bank, including Voice and Accounting Index and Government Effectiveness Index, and 3) Educational indicators, including public education expenditure per capita and average total years of schooling, The most outstanding countries in the overall index are Norway, Denmark, Sweden, the United States, Austria, Ireland, Switzerland, Canada, Finland, Netherlands, and the United Kingdom. The three groups of indicators are highly correlated in several ways, due to the important positive effects of education on economic development and governance effectiveness, as well as to the positive effects of the “Voice and Accounting” index on “Governance Effectiveness”, and the importance of the latter for economic development, as it is shown in the estimated econometric models.
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Bibliographic InfoArticle provided by Euro-American Association of Economic Development in its journal Applied Econometrics and International Development.
Volume (Year): 9 (2009)
Issue (Month): 1 ()
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Web page: http://www.usc.es/economet/eaa.htm
Find related papers by JEL classification:
- A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
- I2 - Health, Education, and Welfare - - Education
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- O51 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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