Review of HDI Critiques and Potential Improvements
Milorad Kovacevic ()
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Milorad Kovacevic: Human Development Report Office, UNDP
No HDRP-2010-33, Human Development Research Papers (2009 to present) from Human Development Report Office (HDRO), United Nations Development Programme (UNDP)
This paper reviews critiques of the Human Development Report over the last twenty years. The critiques are mostly related to the choice of indicators, to high correlation of HDI components, functional form of the HDI including normalization of component indicators, aggregation vs. multiplication, and issues related to weighting. A thorough analysis of the critiques leads us to a proposal for modification of the HDI.
Keywords: Composite index; well-being; marginal substitutability; equal weighting; aggregation (search for similar items in EconPapers)
JEL-codes: C43 O15 (search for similar items in EconPapers)
Pages: 48 pages
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Published as background research for the 2010 Human Development Report.
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Persistent link: https://EconPapers.repec.org/RePEc:hdr:papers:hdrp-2010-33
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