 Redefining the development index of a nationMPRA Paper from University Library of Munich, Germany Abstract: An overemphasis on GDP and GDP-related parameters has neglected the measurement of ‘versatile development’ of a nation. The present design and application of all the development related parameters serve a limited purpose of using common medicine for all types of patients. A Development Index of a nation should also be a measurement of sustainability of economic growth and inclusivity for the downtrodden communities. As an index, it should look at the ‘relative status’ of a nation. This is essential to attach suitable weightages to the various components of an index, suited to the socio-economic condition of a nation. This paper attempts to rework on the Development Index, to make it a versatile tool to measure an all-round development of a nation. The illustration presented in this paper is based on a broad study of the overall status of the economies of a few influential countries. While doing so the index is presented through its ten components capturing maximum possible dimensions of a nation’s development. Keywords: Development Index; sustainability; versatility; inclusivity; equity; GDP; economic status (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:90783 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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