Proposition of Development and Growth Through Economic Development Index

Ashot Davoyan ()
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Ashot Davoyan: Executive Global Masters in Management Program

A chapter in Economics and Finance Readings, 2023, pp 15-25 from Springer

Abstract: Abstract In modern economics, in addition to indicators of economic growth, the term “economic development” is regarded as relatively important. The term is considered a complex, multifactorial concept. In this article, I studied the importance of economic development and carried out a quantitative assessment through a number of indicators characterizing economic development in different countries. Consequently, the Economic Development Index was calculated, which included 11 sub-indexes, covering data of 102 countries from 2012 to 2019. Notwithstanding the quantitative assessment of economic development, it must be noted that it is, in essence, a qualitative phenomenon with complex and dynamic characteristics.

Keywords: Economy; Development and growth; Economic development index; Evaluation; Weight coefficient; Analysis (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-1979-6_2

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DOI: 10.1007/978-981-99-1979-6_2

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