Analysis of Development Performance Using a Development Index Based on Factor Analysis (Old Title: Constructing Multideminsional Indexes of Economic Structure and Development)

Ganegodage, K. Renuka, Rambaldi, Alicia N., Rao, D. S. Prasada and Tang, Kam Ki (2006). Analysis of Development Performance Using a Development Index Based on Factor Analysis (Old Title: Constructing Multideminsional Indexes of Economic Structure and Development). Working Paper WP05/2006, Centre for Efficiency and Productivity Analysis (CEPA), School of Economics, University of Queensland.


Author Ganegodage, K. Renuka
Rambaldi, Alicia N.
Rao, D. S. Prasada
Tang, Kam Ki
Title Analysis of Development Performance Using a Development Index Based on Factor Analysis (Old Title: Constructing Multideminsional Indexes of Economic Structure and Development)
School, Department or Centre Centre for Efficiency and Productivity Analysis (CEPA)
Institution School of Economics, University of Queensland
Series Working Paper
Report Number WP05/2006
Publication date 2006
Publisher The University of Queensland School of Economics
Total pages 54
Language eng
Subject 140202 Economic Development and Growth
140302 Econometric and Statistical Methods
Abstract/Summary Development involves changes in social, economic and institutional structures. Quantifying development requires a large array of variables with different characteristics often highly correlated. A factor analysis approach using inferential decisions based on computed standard errors is proposed. The significant factors are used to construct sub-indexes of structural characteristics and a new development index (DI). The properties of DI are analysed and contrasted with more traditional measures, real per capita income (RIPC) and the Human Development Index (HDI). The methodology is applied to data on 45 variables for 97 countries for 1995-2004. DI is found to have stronger discriminating power. Key words – , ,
Keyword Development indexes
Factor analysis
Jackknife
Q-Index Status Provisional Code
Institutional Status UQ
Additional Notes ISSN: 1932-4398 -- Title changed from: Constructing multidimensional indexes of economic structure and development.

 
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Created: Thu, 19 Mar 2009, 16:40:48 EST by Maryanne Watson on behalf of Faculty of Business, Economics & Law