The Human Development Index: suggested corrections
DOI:
https://doi.org/10.13133/2037-3643/10596Keywords:
Methods, Economic indicators, Social economics, Human development indexAbstract
Full substitutability and equal weighting principles of the human development index (HDI) have been found to be ineffective in determining appropriate HDI values and should therefore be dropped. An index can be devised with equal distribution of values of the component variables to correct HDI in proportion to a country's distance from the perfect equilibrium point while differential weighting may be substituted with a line in three dimensional space.
JEL Codes: A10
References
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