A multivariate approach in measuring socio-economic development of MENA countries

Nemanja Milenkovic, Jovanka Vukmirovic, Milica Bulajic and Zoran Radojicic

Economic Modelling, 2014, vol. 38, issue C, 604-608

Abstract: Socio-economic development of countries is a complex problem that has been constantly elaborated upon over the past few decades. An analysis of a country's welfare cannot be limited to either economic or social factors; it must be determined by combining both of these aspects. As technology has advanced, those indicators crucial for describing this phenomenon have also changed. internet connectedness has been introduced as an indicator of socio-economic development. Furthermore, the development of a health system is essential for a country's development. The aim of this paper has been to present one synthesized indicator that is able to quantitatively demonstrate any country's welfare. The statistical I-distance method is thoroughly explained and has been applied to 22 countries. Crucial indicators for ranking are also elaborated.

Keywords: I-distance method; MENA countries; Ranking; Socio-economic development (search for similar items in EconPapers)
JEL-codes: C44 I15 I30 O11 O57 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (19)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0264999314000558
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:38:y:2014:i:c:p:604-608

DOI: 10.1016/j.econmod.2014.02.011

Access Statistics for this article

Economic Modelling is currently edited by S. Hall and P. Pauly

More articles in Economic Modelling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().