Social Sciences
6 years ago

Governance Indicators Boost Human Development, Improving Societal Wellbeing

“Beyond Human Development Index: a stochastic spanning approach”
Mehmet Pinar, Thanasis Stengos, Nikolas Topaloglou

Paper Summary

The Human Development Index (HDI) is a popular way to measure wellbeing, but some say it doesn't cover everything. A new method called stochastic spanning was used to see if adding new indicators to the HDI would make it better. By testing the inclusion of governance indicators, it was found that adding some governance measures to the HDI can improve overall welfare.

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