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

Sudip Ranjan Basu ()

Development and Comp Systems from EconWPA

Abstract: 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)).

Keywords: Economic Well-being; Governance; Decentralisation; Panel data; India (search for similar items in EconPapers)
JEL-codes: O1 C10 C23 R11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cwa, nep-geo and nep-soc
Date: 2005-09-08
Note: Type of Document - pdf; pages: 34. pdf format
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