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Alternative Composite Lisbon Development Strategy Indices

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  • Heshmati, Almas

    () (Jönköping University, Sogang University)

  • Oh, Jong-Eun

    () (Seoul National University)

Abstract

This study addresses the measurement of two composite Lisbon strategy indices that quantifies the level and patterns of development for ranking countries. The first index is nonparametric labelled as Lisbon strategy index (LSI). It is composed of six components: general economics, employment, innovation research, economic reform, social cohesion and environment, each generated from a number of Lisbon indicators. LSI by reducing the complexity of the set of indicators, it makes the ranking procedures quite simple. The second and parametric index is based on principal component analysis. Despite the difference in the ranking by the two indices, it is shown that the United States outperformed most EU-member states. Our investigations also show evidence of significant dynamic changes taking place, as the countries of the Union struggle to achieve the Lisbon goals. The necessity of a real reform agenda in several old and new members and candidate countries emerges from our analysis.

Suggested Citation

  • Heshmati, Almas & Oh, Jong-Eun, 2005. "Alternative Composite Lisbon Development Strategy Indices," IZA Discussion Papers 1734, Institute for the Study of Labor (IZA).
  • Handle: RePEc:iza:izadps:dp1734
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    References listed on IDEAS

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    1. Archibugi, Daniele & Coco, Alberto, 2004. "A New Indicator of Technological Capabilities for Developed and Developing Countries (ArCo)," World Development, Elsevier, vol. 32(4), pages 629-654, April.
    2. Andersen, Torben M. & Herbertsson, Tryggvi Thor, 2003. "Measuring Globalization," IZA Discussion Papers 817, Institute for the Study of Labor (IZA).
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    More about this item

    Keywords

    composite index; economic integration; economic development; Lisbon Agenda;

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • F15 - International Economics - - Trade - - - Economic Integration
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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