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The Determinants of Economic Well-being:An Application in the Indian States

  • Sudip Ranjan Basu

    (Graduate Institute of International Studies HEI , Geneva)

The purpose of this paper is to explore the determinants of economic well-being. We provide a methodology to compute well-being by aggregating different socio-economic dimensions with factor analysis technique. We also estimate quality of good governance (using latent variable approach) and a financial decentralisation index. Panel data is employed to explore if better quality of institutional arrangements (of governance and more financial decentralisation) lead to better outcome in the economic well-being index. The evidence shows a strong positive link ( from using data of 16 major Indian states over four points of time (1970s to 1997-latest)).

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Paper provided by EconWPA in its series Development and Comp Systems with number 0509009.

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Length: 34 pages
Date of creation: 08 Sep 2005
Date of revision:
Handle: RePEc:wpa:wuwpdc:0509009
Note: Type of Document - pdf; pages: 34. pdf format
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  1. Kaufmann, Daniel & Kraay, Aart & Zoido-Lobaton, Pablo, 1999. "Aggregating governance indicators," Policy Research Working Paper Series 2195, The World Bank.
  2. Dasgupta, Partha & Weale, Martin, 1992. "On measuring the quality of life," World Development, Elsevier, vol. 20(1), pages 119-131, January.
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  6. Sudip Ranjan Basu, 2005. "Estimating the Quality of Economic Governance: A Cross-Country Analysis," Econometrics 0509012, EconWPA.
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  8. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
  9. Andrea Bassanini & Stefano Scarpetta & Philip Hemmings, 2001. "Economic Growth: The Role of Policies and Institutions: Panel Data. Evidence from OECD Countries," OECD Economics Department Working Papers 283, OECD Publishing.
  10. Pranab Bardhan & Dilip Mookherjee, 1998. "Expenditure Decentralization and the Delivery of Public Services in Developing Countries," Boston University - Institute for Economic Development 90, Boston University, Institute for Economic Development.
  11. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-80, December.
  12. Mauro, Paolo, 1995. "Corruption and Growth," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 681-712, August.
  13. Sen, Amartya, 1983. "Development: Which Way Now?," Economic Journal, Royal Economic Society, vol. 93(372), pages 742-62, December.
  14. Stephen Knack & Philip Keefer, 1995. "Institutions And Economic Performance: Cross-Country Tests Using Alternative Institutional Measures," Economics and Politics, Wiley Blackwell, vol. 7(3), pages 207-227, November.
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