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Sustainable Development Indicator with Special Focus on Developing Countries. Proposal of New Sustainable Development Index (Nsdi)

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  • Karahasanović Dina

    (Foreign Investment Promotion Agency of Bosnia and Herzegovina Sarajevo, Bosnia and Herzegovina)

  • Tatić Kasim
  • Avdić Armin

    (Faculty of Economics University of Sarajevo Sarajevo, Bosnia and Herzegovina)

Abstract

After a brief overview of contemporary indicators (environmental and sustainable development indicators), it is clear that developing countries are lagging behind and are not able to follow current trends. Due to the limited capacity, they have problems in updating the economic indicators and in submitting data to international institutions. Without a clear recommendation less developed countries with difficulties can follow the development of indicators. Therefore, the new index of sustainable development is proposed, which is based on available data and it is applicable to the less developed countries. The new sustainable development index (nSDi), as a simple and innovative model, enables the calculation and monitoring of sustainability, by using available data for most countries. According to the methodology, nSDi is based on the Human Development Index (HDI), but it is adapted toward the definition of sustainable development. In calculation follows the compatibility of economy, nature and society. According to these models, nSDi values for target European countries are calculated.

Suggested Citation

  • Karahasanović Dina & Tatić Kasim & Avdić Armin, 2012. "Sustainable Development Indicator with Special Focus on Developing Countries. Proposal of New Sustainable Development Index (Nsdi)," Scientific Annals of Economics and Business, Sciendo, vol. 59(1), pages 257-273, July.
    • Handle: RePEc:vrs:aicuec:v:59:y:2012:i:1:p:257-273:n:18
    DOI: 10.2478/v10316-012-0018-5
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    References listed on IDEAS

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