scholarly journals Sustainable Development: A Quantitative Analysis Regarding the Impact of Resource Rents on State Welfare from 2002 to 2017

2020 ◽  
Vol 4 (4) ◽  
pp. 119-131
Author(s):  
Marcel Biewendt
Keyword(s):  
Economic Development ◽  
Quantitative Analysis ◽  
Human Development ◽  
Economic Performance ◽  
Human Development Index ◽  
Development Index ◽  
Resource Rents ◽  
Socio Economic Development ◽  
Economic Nature ◽  
Insight Into

This paper uses a quantitative analysis to examine the interdependence and impact of resource rents on socio-economic development from 2002 to 2017. Nigeria and Norway have been chosen as reference countries due to their abundance of natural resources by similar economic performance, while the ranking in the Human Development Index differs dramatically. As the Human Development Index provides insight into a country’s cultural and socio-economic characteristics and development in addition to economic indicators, it allows a comparison of the two countries. The hypothesis presented and discussed in this paper was researched before. A qualitative research approach was used in the author’s master’s thesis “The Human Development Index (HDI) as a Reflection of Resource Abundance (using Nigeria and Norway as a case study)” in 2018. The management of scarce resources is an important aspect in the development of modern countries and those on the threshold of becoming industrialised nations. The effects of a mistaken resource management are not only of a purely economic nature but also of a social and socio-economic nature. In order to present a partial aspect of these dependencies and influences this paper uses a quantitative analysis to examine the interdependence and impact of resource rents on socio-economic development from 2002 to 2017. Nigeria and Norway have been chosen as reference countries due to their abundance of natural resources by similar economic performance, while the ranking in the Human Development Index differs significantly. As the Human Development Index provides insight into a country’s cultural and socio-economic characteristics and development in addition to economic indicators, it allows a comparison of the two countries. This paper found out in a holistic perspective that (not or poorly managed) resource wealth in itself has a negative impact on socio-economic development and significantly reduces the productivity of the citizens of a state. This is expressed in particular for the years 2002 till 2017 in a negative correlation of GDP per capita and HDI value with the share respectively the size of resources in the GDP of a country. Keywords: Human Development Index, sustainability, resource abundance, socio-economic welfare.

Inequalities in socio-economic development in the world

2015 ◽  
Vol 60 (8) ◽  
pp. 81-100
Author(s):  
Witold Rakowski
Keyword(s):  
Economic Development ◽  
Income Distribution ◽  
Human Development ◽  
Human Development Index ◽  
Development Index ◽  
Human Development Report ◽  
The World ◽  
Socio Economic Development

Based on the Human Development Report 2013 the author presents classification of the countries taking into account HDI value in 2012, non-income HDI and the IHDI (Inequality – Adjusted Human Development Index). IHDI reflects disparities in the income distribution. 187 states of the report are divided into 12 groups by the HDI total value.

scholarly journals ОЦЕНКА ВЛИЯНИЯ СФЕРЫ ОБРАЗОВАНИЯ НА ЭКОНОМИЧЕСКОЕ РАЗВИТИЕ СТРАНЫ

2019 ◽  
pp. 41-47
Author(s):  
Ахмедова Эсмира М.
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Comparative Analysis ◽  
Human Development ◽  
Human Development Index ◽  
Public Investment ◽  
Development Index ◽  
Social And Economic Development ◽  
The World ◽  
Socio Economic Development

This article indicates the results a comparative analysis the financing of the advanced countries of the world and similar indicators of Azerbaijan during the period active development of education and modernization of the economy. The methodology work is the fundamental works of foreign scientists, such as reports of the Organization for Economic Cooperation and Development (OECD), human development index indicators in the field of determining and assessing the dependence of socio-economic development on public investment in education. It is displayed that Azerbaijan has resources and potential for growth of human capital, for social and economic development of the country. On the basis of the research, some conclusions and proposals are presented that contribute to improving the prospects for the economic development of Azerbaijan.

scholarly journals Sensitivity analysis as a tool to optimise Human Development Index

Equilibrium ◽  
2019 ◽  
Vol 14 (3) ◽  
pp. 425-440 ◽  
Author(s):  
Marta Kuc-Czarnecka
Keyword(s):  
Sensitivity Analysis ◽  
Economic Development ◽  
Human Development ◽  
Human Development Index ◽  
Value Added ◽  
Evaluation Process ◽  
Composite Indicators ◽  
Sensitivity Index ◽  
Development Index ◽  
Socio Economic Development

Research background: Composite indicators are commonly used as an approximation tool to measure economic development, the standard of living, competitiveness, fairness, effectiveness, and many others being willingly implemented into many different research disciplines. However, it seems that in most cases, the variable weighting procedure is avoided or erroneous since, in most cases, the so-called ‘weights by belief’ are applied. As research show, it can be frequently observed that weights do not equal importance in composite indicators. As a result, biased rankings or grouping of objects are obtained. Purpose of the article: The primary purpose of this article is to optimise and improve the Human Development Index, which is the most commonly used composite indicator to rank countries in terms of their socio-economic development. The optimisation will be done by re-scaling the current weights, so they will express the real impact of every single component taken into consideration during HDI’s calculation process. Methods: In order to achieve the purpose mentioned above, the sensitivity analysis tools (mainly the first-order sensitivity index) were used to determine the appropriate weights in the Human Development Index. In the HDI’s resilience evaluation process, the Monte Carlo simulations and full-Bayesian Gaussian processes were applied. Based on the adjusted weights, a new ranking of countries was established and compiled with the initial ranking using, among others, Kendall tau correlation coefficient. Findings & Value added: Based on the data published by UNDP for 2017, it has been shown that the Human Development Index is built incorrectly by putting equal weights for all of its components. The weights proposed by the sensitivity analysis better reflect the actual contribution of individual factors to HDI variability. Re-scaled Human Development Index constructed based on proposed weights allow for better differentiation of countries due to their socio-economic development.

scholarly journals The Socio-Economic Development and Its Relationship with the Indicators of Empowerment, Economic Freedoms and Opportunities

2021 ◽  
Vol 5 (520) ◽  
pp. 22-28
Author(s):  
Т. V. Matiuk ◽  
◽  
O. V. Poluiaktova ◽  
Keyword(s):  
Economic Development ◽  
Life Satisfaction ◽  
Human Development ◽  
Human Development Index ◽  
Economic Freedom ◽  
Satisfaction With Life ◽  
Strong Relationship ◽  
Development Index ◽  
Theoretical Approaches ◽  
Socio Economic Development

The article analyzes the key aspects and factors of the socio-economic development of society. On the basis of the studied theoretical approaches, the essence of the concept of «economic development» is specified. The most important components of the new quality of growth are defined. Both the need to and possibility of supplementing the indicator of the country’s success in socio-economic development (HDI), which is annually calculated by UNDP and reflects the relationship between the assessment of longevity in the country, the level of literacy and education of the population and the standard of living, indicators of empowerment, economic freedoms and opportunities, is substantiated. Based on the correlation analysis of indicators of the human development index, on the one hand, and the human development index, taking into account indicators of empowerment, economic freedoms and opportunities, as well as the index of life satisfaction, political and economic freedom, on the other hand, it has been proved that there is a direct strong connection between these indicators. This testifies the direct impact of the extent of life satisfaction, economic independence and political participation on the socio-economic development of society. A comparison of the composition of the resulting clusters with the rating of countries by the level of human development within the traditional HDI showed that there are certain differences. Thus, the largest number of countries with a very high level of human development when applying indicators of empowerment have lost their status. Similar results are observed for many other countries that, according to the HDI rating, taking into account empowerment, found themselves in a lower level of human development in a group of countries. The research showed that none of the countries moved in the ranking to a higher group. The obtained results confirmed the hypothesis that there is a fairly strong relationship between the levels of overall satisfaction with life, democracy and economic freedom and socio-economic development.

scholarly journals ECONOMIC DEVELOPMENT IN AFRICA AND EUROPE: RECIPROCAL COMPARISONS

2015 ◽  
Vol 34 (1) ◽  
pp. 11-37
Author(s):  
Stephen Broadberry ◽  
Leigh Gardner
Keyword(s):  
Twentieth Century ◽  
Economic Development ◽  
Human Development ◽  
Human Development Index ◽  
Development Potential ◽  
Development Index ◽  
National Accounting ◽  
Recent Advances ◽  
Alternative Measures ◽  
Per Capita

ABSTRACTRecent advances in historical national accounting have allowed for global comparisons of GDPper capitaacross space and time. Critics have argued that GDPper capitafails to capture adequately the multi-dimensional nature of welfare, and have developed alternative measures such as the human development index. Whilst recognising that these wider indicators provide an appropriate way of assessing levels of welfare, we argue that GDPper capitaremains a more appropriate measure for assessing development potential, focussing on production possibilities and the sustainability of consumption. Twentieth-century Africa and pre-industrial Europe are used to show how such data can guide reciprocal comparisons to provide insights into the process of development on both continents.

scholarly journals An Evaluation of Human Development Index in Central Asian Countries

2011 ◽  
Author(s):  
Volkan Öngel ◽  
İlyas Sözen ◽  
Ahmet Alkan Çelik
Keyword(s):  
Economic Development ◽  
Human Development ◽  
Gender Discrimination ◽  
Human Development Index ◽  
Asian Countries ◽  
Political Preference ◽  
Equal Distribution ◽  
Development Index ◽  
Life Expectancy At Birth ◽  
Economic Development And Growth

Economic development and growth had been the most important target among all goverments throughout the history. In this respect, Kazakhstan, Turkmenistan, Uzbekistan, Tajikistan and Kyrgyzstan in Middle Asian Region had chosen development as primary target in 20 years time after their independence. Human capital is the leading factor to maintain economic development and growth. Development and growth terms over which different meanings and concepts were imposed in time, necessitated several political economic alterations. Before 1970’s, increase in income had been sufficient criterion for the development of a government. But nowadays economic development incorporates factors such as life expectancy at birth, school enrolment ratio, literancy rate, gender discrimination, poverty alleviation, equal distribution of income beyond economic growth. Herewith this change political preference and priorities has started to differentiate. The aim of this study is to discuss human development index (HDI) data of 5 Middle Asian countries in 2010 and changes in HDI in years after their independence. Comparisan between Gross Domestic Product (GDP) and HDI rates are also performed within this analysis. This study consists of data of 5 Middle Asian countries between years 1990-2010. Basic, retrospective, illustrative library method is used as the study method. In conclusion, we find that increase in GDP did not reflect over HDI in Middle Asian Countries within 20-years period.

scholarly journals Kenya’s Human Capital Development and Economic Growth: Best Practicesfrom South Korea and Singapore (2002-2014)

2020 ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
South Korea ◽  
Human Development ◽  
Human Development Index ◽  
Statistical Significance ◽  
Government Expenditure ◽  
Great Influence ◽  
Successful Implementation ◽  
Development Index

The study examined the role played by HCD in the economic development of Kenya between 2002 and 2014 by interrogating the development models adopted by South Korea and Singapore as a benchmark to determine the gaps in the model adopted by Kenya. Despite Kenya, Singapore and South Korea exhibiting similar income levels in the 1960s, the gap between Kenya’s economic growth and those of South Korea and Singapore has widened tremendously since independence in 1963. Kenya has recorded low Gross Domestic Product (GDP) compared to the two Asian countries. The researcher relied on secondary data sourced from national, regional and international websites and organizations. The data collected was corroborated with data sourced from government offices and websites. Data sets from the three countries was used to examine the extent to which HCD practices affect economic growth for the purposes of deriving the best HCD practices from South Korea and Singapore that influence economic growth. The design therefore necessitated causality analysis using the Granger Causality Test and correlational and regression analysis that facilitated the measurement, development and assessment of the statistical significance of the causal relationships among the study variables. The model variables included GDP as the response variable explained by six predictor variables; government expenditure on education, human development index, average years of schooling as a proxy for percentage of population that has attained education, patents filed by the countries, government effectiveness and government expenditure on research and development. Findings revealed that HCD had a great influence on economic development of a country. Findings further revealed that whereas human development index was found to be positively correlated to economic growth in South Korea and Singapore, it was negatively (inversely) correlated to economic growth in Kenya. To achieve sustained economic growth, the study recommends that the provision of education be strengthened to ensure successful implementation of Competency Based Curriculum with the government laying more emphasis on applied R&D.

scholarly journals Authoritarian Regimes and Economic Development: An Empirical Reflection

2016 ◽  
Vol 55 (4I-II) ◽  
pp. 657-673
Author(s):  
Karim Khan ◽  
Saima Batool ◽  
Anwar Shah
Keyword(s):  
Economic Development ◽  
Human Development ◽  
Political Institutions ◽  
Human Development Index ◽  
Jel Classification ◽  
Authoritarian Regimes ◽  
Development Index ◽  
Alternative Measures ◽  
Cross Country ◽  
The Impact

Since the recent emphasis on institutions for overall economic development of the countries, the research in this strand has expanded enormously. In this study, we want to see the impact of political institutions on economic development in pure cross-country setting. We take the Human Development Index (HDI) as a measure of economic development and use two alternative measures of dictatorship. We find that dictatorship is adversely affecting economic development in our sample of 92 countries. For instance, transition from extreme dictatorship to ideal democracy would increase HDI by 17 percent. Moreover, our results are robust to alternative specifications and the problems of endogeneity and reverse causation as is shown by the results of 2 Stages Least Squares (2SLS). JEL Classification: P16, H11, H41, H42 Keywords: Economic Development, Human Development Index, Dictatorship

scholarly journals PHYSICAL INFRASTRUCTURE AND ECONOMIC DEVELOPMENT IN NORTH EASTERN STATES OF INDIA

2019 ◽  
Vol 14 (4) ◽  
pp. 247-268
Author(s):  
Ruby Ojha
Keyword(s):  
Economic Development ◽  
Human Development ◽  
Human Development Index ◽  
Flood Control ◽  
Domestic Product ◽  
Social Infrastructure ◽  
Development Index ◽  
North Eastern ◽  
Physical Infrastructure

This paper studies the trends and pattern in the share of the planned outlay in physical infrastructure on North Eastern States in total outlay of India. The sectors which are focused here are Irrigation & Flood Control, Energy and Transport & Communication. The Paper also analyses the association between the plan outlay on selected sectors and resultant change in Gross State Domestic Product (GSDP) and Human Development Index (HDI) over the period of XI and XII Five Year Plans. The paper concludes that increased plan outlay on physical infrastructure has resulted in increased Gross State Domestic Product in North Eastern States but it may take longer time and more attention towards development of Social infrastructure before it is translated into improved Human Development Index (HDI).

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