An Economic Development Index
There is no consensus about which variables, apart from income per capita, serve to characterize or define economic development, or guide its teaching. This paper proposes a simple and operational definition that combines the level of income per capita and the distribution of income. An economic development index is then constructed and used to rank a sample of countries from the well-known Deininger and Squire database. The results differ, significantly in some cases, from rankings produced by the United Nations' Human Development Index and the GDP per capita.
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- Deininger, K & Squire, L, 1996. "Measuring Income Inequality : A New Data-Base," Papers 537, Harvard - Institute for International Development.
- Rodrik, Dani & Alesina, Alberto, 1994.
"Distributive Politics and Economic Growth,"
4551798, Harvard University Department of Economics.
- Deininger, Klaus & Olinto, Pedro, 2000. "Asset distribution, inequality, and growth," Policy Research Working Paper Series 2375, The World Bank.
- Robert J. Barro, 1999. "Inequality, Growth, and Investment," NBER Working Papers 7038, National Bureau of Economic Research, Inc.
- Persson, Torsten & Tabellini, Guido, 1994.
"Is Inequality Harmful for Growth?,"
American Economic Review,
American Economic Association, vol. 84(3), pages 600-621, June.
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