Tentative indices for regional economic development: an exploratory study using Swedish municipal data

Tobias Arvemo and Urban Gråsjö

Chapter 3 in Diversity, Innovation and Clusters, 2020, pp 44-56 from Edward Elgar Publishing

Abstract: Using variable selections methods this chapter examines variables potentially suitable as indicators for different dimensions of economic development. Since potential factors for measuring economic development typically will differ greatly over large geographical areas, the study uses indicators on municipality level to avoid large geographical units of analysis. The analysis is performed on Swedish municipality data from 2015. An extensive search yielded a number of prospective indicators to use even though the official data gathered in Sweden are not particularly suitable for investigating the softer dimensions of economic development. The results of the study suggest that the indicators of economic development can be categorized into five dimensions/indices that represent: “Quality of Living†, “Economic Capacity†, “Wealth and Stability†, “Growing Worries†and “Gross Municipal Product per inhabitant†in the municipality.

Keywords: Economics and Finance; Geography; Innovations and Technology; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2020
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