Is the Human Development Index Redundant?
AbstractIt is shown that the component statistics of the HDI are highly correlated with one another. An implication of this correlation is that a wide range of index weights produce indexes that are statistically identical to the HDI. Indexes with only two of the three HDI components are very highly correlated with the HDI. The results can be considered two ways: either the HDI is largely redundant, or the HDI results are robust to a wide range of index weights.
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Bibliographic InfoPaper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 0204.
Date of creation: Dec 2002
Date of revision:
Publication status: Published in Eastern Economic Journal, Vol. 31:1, Winter 2005, pp. 1-5.
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Human Development Index;
Find related papers by JEL classification:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- O15 - Economic Development, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
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