Research Article

The Country Development Index: A Holistic Approach to Assessing Socioeconomic Progress

Volume: 5 Number: 1 July 18, 2023
TR EN

The Country Development Index: A Holistic Approach to Assessing Socioeconomic Progress

Abstract

As the global economy continues to evolve, the traditional approach of measuring national prosperity based solely on GDP has become increasingly inadequate. The limitations of this approach have prompted the development of the Country Development Index, which aims to redefine how we evaluate a country's progress and well-being. By incorporating a diverse range of social and economic indicators, such as income equality, access to opportunities, and democratic values, this innovative metric seeks to provide a more nuanced and holistic understanding of a nation's prosperity and advancement. The Country Development Index's methodology involves a rigorous and multifaceted approach that draws upon a wide range of data sources and indicators, and uses a sophisticated algorithm to generate a composite score for each country. This methodology will be subjected to rigorous testing and validation to ensure its reliability and validity. Ultimately, the Country Development Index has the potential to revolutionize how we evaluate and compare countries, and to provide policymakers with a powerful tool for promoting human well-being and societal progress.

Keywords

Supporting Institution

University of Warsaw

References

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Details

Primary Language

English

Subjects

Economics

Journal Section

Research Article

Early Pub Date

May 17, 2023

Publication Date

July 18, 2023

Submission Date

January 24, 2023

Acceptance Date

May 15, 2023

Published in Issue

Year 2023 Volume: 5 Number: 1

APA
Akarsu, M. Z. (2023). The Country Development Index: A Holistic Approach to Assessing Socioeconomic Progress. İzmir Sosyal Bilimler Dergisi, 5(1), 44-57. https://doi.org/10.47899/ijss.1241492

Cited By

İzmir Journal of Social Sciences © 2019
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