A proposal for modified human development index for BRICS countries. A holistic approach towards sustainable human development

Bhawna Mudgal and Hemlata Manglani
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Bhawna Mudgal: Central University of Rajasthan, Ajmer, India
Hemlata Manglani: Central University of Rajasthan, Ajmer, India

Theoretical and Applied Economics, 2023, vol. XXX, issue 3(636), Autumn, 107-130

Abstract: Study attempts to align HDI with the Sustainable Human Development approach. Modified HDI, integrating employment, human values, environmental sustainability, quality aspects of health and education, as a simple generalization within the structure of the existing methodology, is developed for BRICS countries for the period 2000-2019. Proposed MHDI's environmental sustainability dimension index was created using Principal Component Analysis. Framed dimensional indices were regressed on the MHDI values, followed by post-hoc analysis, assisted in generating policy implications. Computed MHDI scores were lower than HDI values for all BRICS members, indicating a lower human development scenario in these countries than what HDI perceives.

Keywords: BRICS; sustainable human development; modified human development index; principal component analysis; post-hoc analysis. (search for similar items in EconPapers)
Date: 2023
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