WORLD DEVELOPMENT FOR 1995-2020: ECONOMETRIC RELATIONSHIPS OF HUMAN CAPITAL, DEVELOPMENT, QUALITY OF GOVERNMENT AND LIFE SATISFACTION IN 164 COUNTRIES

Maria-Carmen Guisan

Applied Econometrics and International Development, 2021, vol. 21, issue 2, 83-112

Abstract: We analyze the evolution of real Gross Domestic Product, Population and Production per capita of the World, for a period of 25 years: 1995-2020, together with the evolution of Schooling, Fertility, Investment and their effects on Production per capita and, diminution of Poverty and increase in Health care expenditure and Life Expectancy. We also relate economic development, with three indicators of Quality of Life (Happiness, Quality of Government, Peace), and found some unilateral or bilateral relationships. We estimate several econometric relationships on the impact of Education on moderation of Fertility rates and its positive effects on the increase of Economic Development and on the indicators of Quality of Life: Happiness, Quality of Government and Peace. The main emphasis of our conclusions, regarding low income countries, is to increase support to Education and Investment. For all the countries (low, middle and high income) it is important to foster good levels of Happiness which is related with not only with economic development but also with Quality of Government and with Peace. Finally we comment on the perspectives, for year 2030 of sustainable development.

Keywords: World Development; Africa; Asia; America; Europe; Eurasia; Schooling; Population; Production; Investment; Happiness; Quality of Government; Peace. (search for similar items in EconPapers)
JEL-codes: C2 C3 D74 O1 O5 O55 O57 Q56 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (6)

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