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Empirical Analysis of the Transformation of Economic Growth into Social Development at an International Level

Author

Listed:
  • Albino Prada-Blanco

    () (University of Vigo)

  • Patricio Sanchez-Fernandez

    () (GEN and University of Vigo)

Abstract

Abstract This paper takes a look at the countries of the world and their rankings in terms of material wealth. Using the attributes and variables featured in the development of these countries and synthetic indexes, it analyzes the relationship between wealth levels and estimates of social development. First we use the indicators estimated by UNDP. Using UNDP methodology and multivariate statistical methods such as factor analysis, we then turn to complementary estimators. Our results not only allow us to identify which countries are better (or worse) at turning economic growth into social development but they also contribute to detecting the dimensions of development behind position changes across various rankings.

Suggested Citation

  • Albino Prada-Blanco & Patricio Sanchez-Fernandez, 2017. "Empirical Analysis of the Transformation of Economic Growth into Social Development at an International Level," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 130(3), pages 983-1003, February.
  • Handle: RePEc:spr:soinre:v:130:y:2017:i:3:d:10.1007_s11205-015-1206-0 DOI: 10.1007/s11205-015-1206-0
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    References listed on IDEAS

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    1. Angus Deaton, 2003. "Health, Inequality, and Economic Development," Journal of Economic Literature, American Economic Association, pages 113-158.
    2. Sen, Amartya, 1981. "Public Action and the Quality of Life in Developing Countries," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 43(4), pages 287-319, November.
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    More about this item

    Keywords

    Wealth; Social development; Synthetic indicators; UNDP;

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P24 - Economic Systems - - Socialist Systems and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • P44 - Economic Systems - - Other Economic Systems - - - National Income, Product, and Expenditure; Money; Inflation
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies

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