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An index for sustainable development

Enrico Casadio Tarabusi () and Paolo Palazzi
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Enrico Casadio Tarabusi: Università degli Studi di Roma "La Sapienza", Dipartimento di Matematica "G. Castelnuovo", Roma (Italy)

Banca Nazionale del Lavoro Quarterly Review, 2004, vol. 57, issue 229, 185-206

Abstract: As a possible improvement to the United Nations' Human Development Index (HDI), we propose including in the set of individual variables some of an environmental or social nature. Thus, by rescaling all the variables non-linearly it is possible to mitigate the effect of outliers and synthesize by principal components, or alternatively by a different averaging method that takes sustainability into account and penalizes unbalances among different aspects of development. Both methods are easy to implement and calibrate. The ensuing effect on the ranking of world countries is compared to the HDI ranking.

Keywords: Development; Sustainability (search for similar items in EconPapers)
JEL-codes: C43 O11 O47 Q01 (search for similar items in EconPapers)
Date: 2004
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