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Is There a Relation Between HDI and Economic Performances?

In: New Trends in Finance and Accounting

Author

Listed:
  • Efehan Ulas

    (Cankiri Karatekin University)

  • Burak Keskin

    (Cankiri Karatekin University)

Abstract

The aim of this study is to compare the economic performances of 20 selected countries, in terms of their growth rate, for the period 2010–2014. We include economic performance indicators as growth rate, GDP per capita, youth unemployment, inflation rate, and account balance. Firstly, AHP is used for the determination of the weights for indicators. Then, ranking is carried out with TOPSIS analyses. Results show that the best performance is showed by Germany. In addition, mean HDI (Human Development Index) scores for the period 2010–2014 are calculated and countries are ranked. To understand the effect of HDI on economic performances, we investigated the relationship between these two findings with Spearman’s rank correlation coefficient. It is clear that there is a positive correlation between HDI and economic performances.

Suggested Citation

  • Efehan Ulas & Burak Keskin, 2017. "Is There a Relation Between HDI and Economic Performances?," Springer Proceedings in Business and Economics, in: David Procházka (ed.), New Trends in Finance and Accounting, chapter 0, pages 61-70, Springer.
    • Handle: RePEc:spr:prbchp:978-3-319-49559-0_6
    DOI: 10.1007/978-3-319-49559-0_6
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    Cited by:

    1. Mariia Shkolnykova & Lasse Steffens & Jan Wedemeier, 2022. "Systems of Innovation in Central and Eastern European countries: Path of Economic Transition and Differences in Institutions," Bremen Papers on Economics & Innovation 2209, University of Bremen, Faculty of Business Studies and Economics.
    2. Ufuk Bingöl & Fatih Ayhan, 2020. "The Impact of NEET and Labor Market Indicators on Human Development: A Panel Data Analysis for EU-28 Countries," Journal of Social Policy Conferences, Istanbul University, Faculty of Economics, vol. 0(79), pages 441-468, December.
    3. Bing Wang & Tianchi Chen, 2022. "Social Progress beyond GDP: A Principal Component Analysis (PCA) of GDP and Twelve Alternative Indicators," Sustainability, MDPI, vol. 14(11), pages 1-18, May.

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