The Human Development Index Adjusted for Efficient Resource Utilization

Francisco J. Arcelus, Basu Sharma and Gopalan Srinivasan

No RP2005-08, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The human development index (HDI) developed by the United Nations Development Programme is computed as the average of three equally weighted outcome measures: life expectancy (LI), educational attainment (EI) and income (WI). However, this computational process is independent of the resources being devoted by each country to the achievement of the three outcome levels. Hence, it is conceivable that two different countries may consume vastly different amount of resources in achieving the same outcome, say, LI.

Keywords: Economies of scale; Index numbers (Economics); Welfare economics (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (9)

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