Is the Human Development Index Redundant?
Miles Cahill ()
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Miles Cahill: Department of Economics, College of the Holy Cross
Eastern Economic Journal, 2005, vol. 31, issue 1, 1-5
It is shown that the component statistics of the HDI are highly correlated with one another. The paper demonstrates that an implication of this correlation is that a wide range of index weights produce indexes that are statistically identical to the HDI. Indexes with only two of the three HDI components are very highly correlated with the HDI. These results can be interpreted two ways: either the HDI is robust to a wide range of index weights, or it is largely redundant.
Keywords: Development (search for similar items in EconPapers)
JEL-codes: I31 O10 (search for similar items in EconPapers)
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