Economic Factors Influencing the Level of Economic Development of Multicounty Areas

Stan Daberkow

Journal of Agricultural and Applied Economics, 1972, vol. 4, issue 1, 45-51

Abstract: Economic development is an elusive, multidimensional concept. Identification of the interdependencies and interactions underlying the development process seem to call for appropriate multivariate analysis. Principal component and factor analyses were used in a study of socioeconomic interdependencies associated with economic development in multicounty areas in the 48 contiguous States. This paper summarizes some results from that study and explains the use of a mathematical identity relating factor analysis to principal component analysis. This identity explains the level of economic development in terms of alternative levels of factors.

Date: 1972
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