Economics, Econometrics and Finance
6 years ago

Measuring Development: New Index Reveals Surprising Insights into Global Prosperity

SGEM International Multidisciplinary Scientific Conferences on Social Sciences and Arts
USING THE HUMAN DEVELOPMENT INDEX IN MEASURING ECONOMIC DEVELOPMENT
Nada Karaman Aksentijević

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The Human Development Index (HDI) measures economic development by combining life expectancy, purchasing power, and education. Longer life expectancy indicates better health, purchasing power shows satisfaction of needs, and education level reflects knowledge and skills. HDI helps rank countries based on development levels, even when data is limited. Changes in HDI criteria affect how countries are ranked. The HDI analysis of Croatia shows its development trends.