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

Year 2023, Volume: 5 Issue: 1, 44 - 57, 18.07.2023
https://doi.org/10.47899/ijss.1241492

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.

Supporting Institution

University of Warsaw

References

  • Acemoglu, D., Naidu, S., Restrepo, P., & Robinson, J. A. (2019). Democracy does cause growth. Journal of political economy, 127(1), 47-100.
  • Alemán, E., & Kim, Y. (2015). The democratizing effect of education. Sage Research and Politics (Sage Research and Politics), 2(4), 1-7. 2053168015613360.
  • Cervellati, M., & Sunde, U. (2009). Life expectancy and economic growth: the role of the demographic transition. IZA Paper No: 4160.
  • Deaton, A. (2013). The great escape: health, wealth, and the origins of inequality. New Jersey: Princeton University Press.
  • Deonandan, R. (2019). Defining poverty: a summary of competing models. The Asian Institute of Research Journal of Social and Political Sciences, 2(1), 17-21.
  • Dynan, K., & Sheiner, L. (2018). GDP as a measure of economic well-being. Hutchins Center Working Paper #43 https://www.brookings.edu/wp-content/uploads/2018/08/WP43-8.23.18.pdf.
  • European Commission (2020). Life expectancy. European Commission website. Accessed Jan 09, 2021. https://ec.europa.eu/health/indicators/docs/echi_10_ds_en.pdf.
  • Farris, F. A. (2010). The Gini index and measures of inequality. The American Mathematical Monthly, 117(10), 851-864.
  • Giovanni, L., & Liberati, P. (2006). Inequality Analysis The Gini Index. Italy: Food and Agriculture Organization of the United Nations.
  • Girum, T., Muktar, E., & Shegaze, M. (2018). Determinants of life expectancy in low and medium human development index countries. Medical Studies 34 (3): 218–225.
  • Grant, C. (2017). The contribution of education to economic growth. the U.K. Government: K4D helpdesk service.
  • Human Development Report (2015). Training Material for Producing National Human Development Reports. OCCASIONAL PAPER, UNDP Human Development Report Office.
  • Katayama, R., & Divyanshi W. (2019). World Bank Blogs. January 09. Accessed January 05, 2021. https://blogs.worldbank.org/opendata/half-world-spoor-live-just-5-countries
  • Lafrance, R., & Schembri, L. L. (2002). Purchasing Power Parity; Definition, Measurment, and Interpretation. Bank of Canada Review 27-33.
  • Leamer, E. E. (2009). Macroeconomic Patterns and Stories: A Guide for MBAs. Berlin: Springer.
  • NUMBEO (2021). Crime Indices. Accessed 11 30, 2021. https://www.numbeo.com/crime/rankings_by_country.jsp.
  • O’Higgins, N. (2015). Youth unemployment. IZA Policy Paper No. 103. 1-21. Institute for the Study of Labour.
  • OECD (2013). GDP per capita. In National Accounts at a Glance 2013, 20 - 23. Paris: OECD Publishing.
  • OECD Insights (2015). HOW DOES INCOME INEQUALITY AFFECT OUR LIVES? https://www.oecd-ilibrary.org/docserver/9789264246010-6- en.pdf?expires=1611686229&id=id&accname=guest &checksum=007049BC1AA38F1459C2B00C2B1C9882, OECD Insights.
  • OECD (2021). OECD Data. Accessed Jan 10, 2021. https://data.oecd.org/unemp/youth-unemployment-rate.htm.
  • Oner, C. (2010). What is inflation. IMF Finance & Development, 47(1), 44-45.
  • Pilling, D. (2018). 5 ways GDP gets it totally wrong as a measure of our success. Jan 17. Accessed 01 04, 2021. https://www.weforum.org/agenda/2018/01/gdpfrog-matchbox-david-pilling-growth-delusion/.
  • Ponthieux, S., & Dominique M. (2015). Gender Inequality. Handbook of Income Distribution Volume 2A, 983-1119.
  • Raphael, S., & Winter-Ebmer, R. (2001). Identifying the effect of unemployment on crime. The journal of law and economics, 44(1), 259-283.
  • Saisana, M. (2014). Education Index. In A. Michalos (Ed.), Encyclopedia of Quality of Life and Well-Being Research, (pp. 1816-1819). Dordrecht: Springer.
  • Schwab, K., & Malleret, T. (2020). The great reset. Geneva: Forum Publishing.
  • Škare, M., & Družeta, R. P. (2015). POVERTY AND ECONOMIC GROWTH: A REVIEW. TECHNOLOGICAL AND ECONOMIC DEVELOPMENT OF ECONOMY 22(1): 156–175. Taban, Sami. 2014. Economic Growth: Notions and Models. Ankara: Nobel.
  • Taylor, R. B. (1995). The Impact of Crime on Communities. Annals of the American Academy of Political and Social Science 539: 28-45. https://www.jstor.org/stable/1048394?seq=1#metadata_info_tab_contents.
  • The Economist Intelligence Unit (2020). Democracy Index 2019: A year of democratic setbacks and popular protest. Annual Report, London: The Economist. cs, vol. XLIV 259-283.
  • The United Nations Development Program (2020). Human Development Report. Accessed Jan 08, 2021. http://hdr.undp.org/en/content/gender-inequalityindex-gii.
  • United Nations Development Program (2020). Technical Notes of Human Development Index. United Nations Development Program, Gender Inequality Index. Accessed Jan 09, 2021. http://hdr.undp.org/sites/default/files/hdr2020_technical_notes.pdf.
  • United Nations Development Program, & Oxford Poverty and Human Development Initiative (2020). Global Multidimensional Poverty Index. Annual Report, London: United Nations Development Programme and Oxford Poverty and Human Development Initiative.
  • Williamson, S. (2002). Macroeconomics. New Jersey: Pearson.
Year 2023, Volume: 5 Issue: 1, 44 - 57, 18.07.2023
https://doi.org/10.47899/ijss.1241492

Abstract

References

  • Acemoglu, D., Naidu, S., Restrepo, P., & Robinson, J. A. (2019). Democracy does cause growth. Journal of political economy, 127(1), 47-100.
  • Alemán, E., & Kim, Y. (2015). The democratizing effect of education. Sage Research and Politics (Sage Research and Politics), 2(4), 1-7. 2053168015613360.
  • Cervellati, M., & Sunde, U. (2009). Life expectancy and economic growth: the role of the demographic transition. IZA Paper No: 4160.
  • Deaton, A. (2013). The great escape: health, wealth, and the origins of inequality. New Jersey: Princeton University Press.
  • Deonandan, R. (2019). Defining poverty: a summary of competing models. The Asian Institute of Research Journal of Social and Political Sciences, 2(1), 17-21.
  • Dynan, K., & Sheiner, L. (2018). GDP as a measure of economic well-being. Hutchins Center Working Paper #43 https://www.brookings.edu/wp-content/uploads/2018/08/WP43-8.23.18.pdf.
  • European Commission (2020). Life expectancy. European Commission website. Accessed Jan 09, 2021. https://ec.europa.eu/health/indicators/docs/echi_10_ds_en.pdf.
  • Farris, F. A. (2010). The Gini index and measures of inequality. The American Mathematical Monthly, 117(10), 851-864.
  • Giovanni, L., & Liberati, P. (2006). Inequality Analysis The Gini Index. Italy: Food and Agriculture Organization of the United Nations.
  • Girum, T., Muktar, E., & Shegaze, M. (2018). Determinants of life expectancy in low and medium human development index countries. Medical Studies 34 (3): 218–225.
  • Grant, C. (2017). The contribution of education to economic growth. the U.K. Government: K4D helpdesk service.
  • Human Development Report (2015). Training Material for Producing National Human Development Reports. OCCASIONAL PAPER, UNDP Human Development Report Office.
  • Katayama, R., & Divyanshi W. (2019). World Bank Blogs. January 09. Accessed January 05, 2021. https://blogs.worldbank.org/opendata/half-world-spoor-live-just-5-countries
  • Lafrance, R., & Schembri, L. L. (2002). Purchasing Power Parity; Definition, Measurment, and Interpretation. Bank of Canada Review 27-33.
  • Leamer, E. E. (2009). Macroeconomic Patterns and Stories: A Guide for MBAs. Berlin: Springer.
  • NUMBEO (2021). Crime Indices. Accessed 11 30, 2021. https://www.numbeo.com/crime/rankings_by_country.jsp.
  • O’Higgins, N. (2015). Youth unemployment. IZA Policy Paper No. 103. 1-21. Institute for the Study of Labour.
  • OECD (2013). GDP per capita. In National Accounts at a Glance 2013, 20 - 23. Paris: OECD Publishing.
  • OECD Insights (2015). HOW DOES INCOME INEQUALITY AFFECT OUR LIVES? https://www.oecd-ilibrary.org/docserver/9789264246010-6- en.pdf?expires=1611686229&id=id&accname=guest &checksum=007049BC1AA38F1459C2B00C2B1C9882, OECD Insights.
  • OECD (2021). OECD Data. Accessed Jan 10, 2021. https://data.oecd.org/unemp/youth-unemployment-rate.htm.
  • Oner, C. (2010). What is inflation. IMF Finance & Development, 47(1), 44-45.
  • Pilling, D. (2018). 5 ways GDP gets it totally wrong as a measure of our success. Jan 17. Accessed 01 04, 2021. https://www.weforum.org/agenda/2018/01/gdpfrog-matchbox-david-pilling-growth-delusion/.
  • Ponthieux, S., & Dominique M. (2015). Gender Inequality. Handbook of Income Distribution Volume 2A, 983-1119.
  • Raphael, S., & Winter-Ebmer, R. (2001). Identifying the effect of unemployment on crime. The journal of law and economics, 44(1), 259-283.
  • Saisana, M. (2014). Education Index. In A. Michalos (Ed.), Encyclopedia of Quality of Life and Well-Being Research, (pp. 1816-1819). Dordrecht: Springer.
  • Schwab, K., & Malleret, T. (2020). The great reset. Geneva: Forum Publishing.
  • Škare, M., & Družeta, R. P. (2015). POVERTY AND ECONOMIC GROWTH: A REVIEW. TECHNOLOGICAL AND ECONOMIC DEVELOPMENT OF ECONOMY 22(1): 156–175. Taban, Sami. 2014. Economic Growth: Notions and Models. Ankara: Nobel.
  • Taylor, R. B. (1995). The Impact of Crime on Communities. Annals of the American Academy of Political and Social Science 539: 28-45. https://www.jstor.org/stable/1048394?seq=1#metadata_info_tab_contents.
  • The Economist Intelligence Unit (2020). Democracy Index 2019: A year of democratic setbacks and popular protest. Annual Report, London: The Economist. cs, vol. XLIV 259-283.
  • The United Nations Development Program (2020). Human Development Report. Accessed Jan 08, 2021. http://hdr.undp.org/en/content/gender-inequalityindex-gii.
  • United Nations Development Program (2020). Technical Notes of Human Development Index. United Nations Development Program, Gender Inequality Index. Accessed Jan 09, 2021. http://hdr.undp.org/sites/default/files/hdr2020_technical_notes.pdf.
  • United Nations Development Program, & Oxford Poverty and Human Development Initiative (2020). Global Multidimensional Poverty Index. Annual Report, London: United Nations Development Programme and Oxford Poverty and Human Development Initiative.
  • Williamson, S. (2002). Macroeconomics. New Jersey: Pearson.

Ülke Gelişim Endeksi: Sosyoekonomik İlerlemenin Değerlendirilmesinde Bütüncül Bir Yaklaşım

Year 2023, Volume: 5 Issue: 1, 44 - 57, 18.07.2023
https://doi.org/10.47899/ijss.1241492

Abstract

Küresel ekonomi geliştikçe, milli refahın sadece GSYİH'ya dayalı ölçümü giderek yetersiz hale gelmektedir. Bu yaklaşımın sınırlamaları, Ülke Gelişim Endeksi'nin geliştirilmesine öncülük etmiştir ve bu endeks, bir ülkenin ilerlemesini ve refahını değerlendirmenin nasıl yeniden tanımlanacağına dair bir hedef taşımaktadır. Gelir eşitliği, fırsatlara erişim ve demokratik değerler gibi çeşitli sosyal ve ekonomik göstergeleri içeren bu inovatif metrik, bir ülkenin refahının ve gelişiminin daha ayrıntılı ve bütüncül bir anlayışını sağlamayı amaçlamaktadır. Ülke Gelişim Endeksi'nin metodolojisi, geniş bir veri kaynağı ve göstergeler yelpazesinden faydalanarak sıkı ve çok yönlü bir yaklaşımı içermekte ve her ülke için bir bileşik skor üretmek için sofistike bir algoritma kullanmaktadır. Bu metodoloji, güvenilirliğinin ve geçerliliğinin sağlanması için sıkı test ve doğrulamalardan geçirilecektir. Sonuç olarak, Ülke Gelişim Endeksi, ülkeleri değerlendirmenin ve karşılaştırmanın yeniden tanımlanmasına ve insan refahı ve toplumsal ilerleme teşvik etmek için politikacılara güçlü bir araç sağlama potansiyeline sahiptir.

References

  • Acemoglu, D., Naidu, S., Restrepo, P., & Robinson, J. A. (2019). Democracy does cause growth. Journal of political economy, 127(1), 47-100.
  • Alemán, E., & Kim, Y. (2015). The democratizing effect of education. Sage Research and Politics (Sage Research and Politics), 2(4), 1-7. 2053168015613360.
  • Cervellati, M., & Sunde, U. (2009). Life expectancy and economic growth: the role of the demographic transition. IZA Paper No: 4160.
  • Deaton, A. (2013). The great escape: health, wealth, and the origins of inequality. New Jersey: Princeton University Press.
  • Deonandan, R. (2019). Defining poverty: a summary of competing models. The Asian Institute of Research Journal of Social and Political Sciences, 2(1), 17-21.
  • Dynan, K., & Sheiner, L. (2018). GDP as a measure of economic well-being. Hutchins Center Working Paper #43 https://www.brookings.edu/wp-content/uploads/2018/08/WP43-8.23.18.pdf.
  • European Commission (2020). Life expectancy. European Commission website. Accessed Jan 09, 2021. https://ec.europa.eu/health/indicators/docs/echi_10_ds_en.pdf.
  • Farris, F. A. (2010). The Gini index and measures of inequality. The American Mathematical Monthly, 117(10), 851-864.
  • Giovanni, L., & Liberati, P. (2006). Inequality Analysis The Gini Index. Italy: Food and Agriculture Organization of the United Nations.
  • Girum, T., Muktar, E., & Shegaze, M. (2018). Determinants of life expectancy in low and medium human development index countries. Medical Studies 34 (3): 218–225.
  • Grant, C. (2017). The contribution of education to economic growth. the U.K. Government: K4D helpdesk service.
  • Human Development Report (2015). Training Material for Producing National Human Development Reports. OCCASIONAL PAPER, UNDP Human Development Report Office.
  • Katayama, R., & Divyanshi W. (2019). World Bank Blogs. January 09. Accessed January 05, 2021. https://blogs.worldbank.org/opendata/half-world-spoor-live-just-5-countries
  • Lafrance, R., & Schembri, L. L. (2002). Purchasing Power Parity; Definition, Measurment, and Interpretation. Bank of Canada Review 27-33.
  • Leamer, E. E. (2009). Macroeconomic Patterns and Stories: A Guide for MBAs. Berlin: Springer.
  • NUMBEO (2021). Crime Indices. Accessed 11 30, 2021. https://www.numbeo.com/crime/rankings_by_country.jsp.
  • O’Higgins, N. (2015). Youth unemployment. IZA Policy Paper No. 103. 1-21. Institute for the Study of Labour.
  • OECD (2013). GDP per capita. In National Accounts at a Glance 2013, 20 - 23. Paris: OECD Publishing.
  • OECD Insights (2015). HOW DOES INCOME INEQUALITY AFFECT OUR LIVES? https://www.oecd-ilibrary.org/docserver/9789264246010-6- en.pdf?expires=1611686229&id=id&accname=guest &checksum=007049BC1AA38F1459C2B00C2B1C9882, OECD Insights.
  • OECD (2021). OECD Data. Accessed Jan 10, 2021. https://data.oecd.org/unemp/youth-unemployment-rate.htm.
  • Oner, C. (2010). What is inflation. IMF Finance & Development, 47(1), 44-45.
  • Pilling, D. (2018). 5 ways GDP gets it totally wrong as a measure of our success. Jan 17. Accessed 01 04, 2021. https://www.weforum.org/agenda/2018/01/gdpfrog-matchbox-david-pilling-growth-delusion/.
  • Ponthieux, S., & Dominique M. (2015). Gender Inequality. Handbook of Income Distribution Volume 2A, 983-1119.
  • Raphael, S., & Winter-Ebmer, R. (2001). Identifying the effect of unemployment on crime. The journal of law and economics, 44(1), 259-283.
  • Saisana, M. (2014). Education Index. In A. Michalos (Ed.), Encyclopedia of Quality of Life and Well-Being Research, (pp. 1816-1819). Dordrecht: Springer.
  • Schwab, K., & Malleret, T. (2020). The great reset. Geneva: Forum Publishing.
  • Škare, M., & Družeta, R. P. (2015). POVERTY AND ECONOMIC GROWTH: A REVIEW. TECHNOLOGICAL AND ECONOMIC DEVELOPMENT OF ECONOMY 22(1): 156–175. Taban, Sami. 2014. Economic Growth: Notions and Models. Ankara: Nobel.
  • Taylor, R. B. (1995). The Impact of Crime on Communities. Annals of the American Academy of Political and Social Science 539: 28-45. https://www.jstor.org/stable/1048394?seq=1#metadata_info_tab_contents.
  • The Economist Intelligence Unit (2020). Democracy Index 2019: A year of democratic setbacks and popular protest. Annual Report, London: The Economist. cs, vol. XLIV 259-283.
  • The United Nations Development Program (2020). Human Development Report. Accessed Jan 08, 2021. http://hdr.undp.org/en/content/gender-inequalityindex-gii.
  • United Nations Development Program (2020). Technical Notes of Human Development Index. United Nations Development Program, Gender Inequality Index. Accessed Jan 09, 2021. http://hdr.undp.org/sites/default/files/hdr2020_technical_notes.pdf.
  • United Nations Development Program, & Oxford Poverty and Human Development Initiative (2020). Global Multidimensional Poverty Index. Annual Report, London: United Nations Development Programme and Oxford Poverty and Human Development Initiative.
  • Williamson, S. (2002). Macroeconomics. New Jersey: Pearson.
There are 33 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Original Research Articles
Authors

Mahmut Zeki Akarsu 0000-0002-8140-4124

Early Pub Date May 17, 2023
Publication Date July 18, 2023
Published in Issue Year 2023 Volume: 5 Issue: 1

Cite

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
İzmir Journal of Social Sciences © 2019
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