An index for sustainable development
AbstractAs a possible improvement to the United Nations' Human Development Index (HDI), we propose including in the set of individual variables some of an environmental or social nature. Thus, by rescaling all the variables non-linearly it is possible to mitigate the effect of outliers and synthesize by principal components, or alternatively by a different averaging method that takes sustainability into account and penalizes unbalances among different aspects of development. Both methods are easy to implement and calibrate. The ensuing effect on the ranking of world countries is compared to the HDI ranking.
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Bibliographic InfoArticle provided by Banca Nazionale del Lavoro in its journal BNL Quarterly Review.
Volume (Year): 57 (2004)
Issue (Month): 229 ()
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Other versions of this item:
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
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