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Alternative Composite Lisbon Development Strategy Indices: A Comparison of EU, USA, Japan and Korea

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  • Almas Heshmati
  • JongEun Oh

Abstract

This study addresses the measurement of two composite Lisbon strategy indices that quantifies the level and patterns of development for ranking countries. The first index is nonparametric labelled as Lisbon strategy index (LSI). It is composed of six components: general economics, employment, innovation research, economic reform, social cohesion and environment, each generated from a number of Lisbon indicators. LSI by reducing the complexity of the set of indicators, it makes the ranking procedures quite simple. The second and parametric index is based on principal component analysis. Despite the difference in the ranking by the two indices, it is shown that the United States outperformed most EU-member states. Our investigations also show evidence of significant dynamic changes taking place, as the countries of the Union struggle to achieve the Lisbon goals. The necessity of a real reform agenda in several old and new members and candidate countries emerges from our analysis. We briefly refer to two important European phenomena emerging from our data analysis and discuss the possible lessons learned from the Korean development strategy

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Bibliographic Info

Article provided by Cattaneo University (LIUC) in its journal The European Journal of Comparative Economics.

Volume (Year): 3 (2006)
Issue (Month): 2 (December)
Pages: 131-170

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Handle: RePEc:liu:liucej:v:3:y:2006:i:2:p:131-170

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Keywords: Economic development; composite index; Lisbon Agenda;

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References

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  1. Daniele Archibugi & Alberto Coco, 2004. "A New Indicator of Technological Capabilities for Developed and Developing Countries (ArCo)," CEIS Research Paper, Tor Vergata University, CEIS 44, Tor Vergata University, CEIS.
  2. Heshmati Almas, 2006. "Measurement of a Multidimensional Index of Globalization," Global Economy Journal, De Gruyter, De Gruyter, vol. 6(2), pages 1-30, May.
  3. Hu, Mei-Chih & Mathews, John A., 2005. "National innovative capacity in East Asia," Research Policy, Elsevier, Elsevier, vol. 34(9), pages 1322-1349, November.
  4. Addison, Tony & Heshmati, Almas, 2003. "The New Global Determinants of FDI Flows to Developing Countries: The Importance of ICT and Democratization," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  5. Farhad Noorbakhsh, 1998. "The human development index: some technical issues and alternative indices," Journal of International Development, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 10(5), pages 589-605.
  6. Axel Dreher, 2002. "Does Globalization Affect Growth?," Development and Comp Systems 0210004, EconWPA, revised 04 Feb 2003.
  7. Grupp, Hariolf & Mogee, Mary Ellen, 2004. "Indicators for national science and technology policy: how robust are composite indicators?," Research Policy, Elsevier, Elsevier, vol. 33(9), pages 1373-1384, November.
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Cited by:
  1. Tausch, Arno & Heshmati, Almas & Bajalan, Chemen S. J., 2007. "On the Multivariate Analysis of the "Lisbon Process"," IZA Discussion Papers 3198, Institute for the Study of Labor (IZA).
  2. Baseem Al-Athwari & Jorn Altmann & Almas Heshmati, 2013. "A Conceptual Model and Methodology for Evaluating E-Infrastructure Deployment and Its Application to OECD and MENA Countries," TEMEP Discussion Papers, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP) 2013102, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Apr 2013.
  3. Tausch, Arno, 2011. "Globalization as a driver or bottleneck for sustainable development. General tendencies and European implications," MPRA Paper 33227, University Library of Munich, Germany.
  4. Tausch, Arno, 2009. "Schaufenster Griechenland – was kann aus dem aktuellen Debakel für das soziale Europa gelernt werden?
    [Showcase Greece – what can be learnt from the current debacle for a Social Europe?]]
    ," MPRA Paper 14251, University Library of Munich, Germany.
  5. TAUSCH, Arno, 2008. "On the world market trajectory of 21 major book publishing companies in globalization and European studies in 100+ countries. From “Amsterdam University Press” via “Palgrave” and “Nova Scien," MPRA Paper 9613, University Library of Munich, Germany.
  6. Heshmati, Almas, 2007. "A Model for Industrial Development of the Federal Region of Kurdistan: Science and Technology Policy, Instruments and Institutions," IZA Discussion Papers 3213, Institute for the Study of Labor (IZA).

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