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A Multivariate Analysis of the Human Development Index

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  • Basudeb Biswas
  • Frank Caliendo

Abstract

A multivariate technique called principal component analysis is used to combine measures of human development. The first principal component index is the linear combination of component indexes with maximal information content. This multivariate technique accounts for differences in the variances of component indexes as well as interdependence among the component indexes. The first principal component of the three indexes used in the HDI (life expectancy, education, GDP) yields rankings nearly identical to the HDI itself. We interpret this as theoretical support for the HDI ranking system as a metric of international human development.

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File URL: ftp://repec.bus.usu.edu/RePEc/usu/pdf/ERI2002-11.pdf
File Function: First version, 2002
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Bibliographic Info

Paper provided by Utah State University, Department of Economics in its series Working Papers with number 2002-11.

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Length: 16 pages
Date of creation: Jul 2002
Date of revision:
Handle: RePEc:usu:wpaper:2002-11

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Web page: http://apec.usu.edu/
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Related research

Keywords: North-South; growth model;

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Cited by:
  1. Jaya Krishnakumar, 2004. "Going Beyond Functionings to Capabilities : an Econometric Model to Explain and Estimate Capabilities," Research Papers by the Department of Economics, University of Geneva 2004.12, Département des Sciences Économiques, Université de Genève.
  2. Elizabeth Stanton, 2007. "The Human Development Index: A History," Working Papers wp127, Political Economy Research Institute, University of Massachusetts at Amherst.
  3. Jaya Krishnakumar & A. Nagar, 2008. "On Exact Statistical Properties of Multidimensional Indices Based on Principal Components, Factor Analysis, MIMIC and Structural Equation Models," Social Indicators Research, Springer, vol. 86(3), pages 481-496, May.
  4. Mehmet Pinar & Thanasis Stengos & Nikolas Topaloglou, 2013. "Measuring human development: a stochastic dominance approach," Journal of Economic Growth, Springer, vol. 18(1), pages 69-108, March.
  5. Amal Ray, 2008. "Measurement of social development: an international comparison," Social Indicators Research, Springer, vol. 86(1), pages 1-46, March.

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