A critical analysis of development indices

Historically, Gross National Product (GNP) has been thought of as a key indicator in measuring the development level of a nation. Over the years, researchers have found that the single GNP indicator is not sufficient to be used to measure development. Numerous efforts have been done to create other...

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Main Authors:	Abdul Aziz, SumayyaH, Mohd Amin, Ruzita
Format:	Conference or Workshop Item
Language:	English English
Published:	2014
Subjects:	HB71 Economics as a science
Online Access:	http://irep.iium.edu.my/41292/ http://irep.iium.edu.my/41292/ http://irep.iium.edu.my/41292/1/A_CRITICAL_ANALYSIS_OF_DEVELOPMENT_INDICES.pdf http://irep.iium.edu.my/41292/2/AABSS_2014.pdf

id	iium-41292
recordtype	eprints
spelling	iium-412922018-06-19T02:36:16Z http://irep.iium.edu.my/41292/ A critical analysis of development indices Abdul Aziz, SumayyaH Mohd Amin, Ruzita HB71 Economics as a science Historically, Gross National Product (GNP) has been thought of as a key indicator in measuring the development level of a nation. Over the years, researchers have found that the single GNP indicator is not sufficient to be used to measure development. Numerous efforts have been done to create other composite indicators that could serve as complements or alternatives to the traditional measure. The questions that arise from these efforts include: (i) What are the development frameworks that underlie the existing development indices? (ii) What are the advantages and limitations of the particular development indices? This study attempts to address the two questions by providing an overview of the existing indices and their evolution over the years, and categorize these indices based on the various development frameworks. The study also aims to identify the advantages and limitations of the existing development indices, and to recommend the direction towards developing indices which are more integrated, holistic and comprehensive in nature. A systematic review of related literature, works, and papers in books, journals, reports, and conferences, were undertaken using meta analysis and content analysis methods. The findings of this study reveal that in general, most of the existing development indices have been criticized with regard to poor data, incorrect choice of indicators, involvement of only a few dimensions of the broader concept of development, lack of consideration on non-material aspects and poor specification of the development framework. Therefore, a comprehensive development index needs to be developed to measure a more holistic approach of development. 2014-08-25 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/41292/1/A_CRITICAL_ANALYSIS_OF_DEVELOPMENT_INDICES.pdf application/pdf en http://irep.iium.edu.my/41292/2/AABSS_2014.pdf Abdul Aziz, SumayyaH and Mohd Amin, Ruzita (2014) A critical analysis of development indices. In: Australian Academy of Business and Social Sciences Conference 2014 (in partnership with The Journal of Developing Areas), 25-26 August, 2014, Kuala Lumpur. https://www.aabss.org.au/research-papers/critical-analysis-development-indices
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English English
topic	HB71 Economics as a science
spellingShingle	HB71 Economics as a science Abdul Aziz, SumayyaH Mohd Amin, Ruzita A critical analysis of development indices
description	Historically, Gross National Product (GNP) has been thought of as a key indicator in measuring the development level of a nation. Over the years, researchers have found that the single GNP indicator is not sufficient to be used to measure development. Numerous efforts have been done to create other composite indicators that could serve as complements or alternatives to the traditional measure. The questions that arise from these efforts include: (i) What are the development frameworks that underlie the existing development indices? (ii) What are the advantages and limitations of the particular development indices? This study attempts to address the two questions by providing an overview of the existing indices and their evolution over the years, and categorize these indices based on the various development frameworks. The study also aims to identify the advantages and limitations of the existing development indices, and to recommend the direction towards developing indices which are more integrated, holistic and comprehensive in nature. A systematic review of related literature, works, and papers in books, journals, reports, and conferences, were undertaken using meta analysis and content analysis methods. The findings of this study reveal that in general, most of the existing development indices have been criticized with regard to poor data, incorrect choice of indicators, involvement of only a few dimensions of the broader concept of development, lack of consideration on non-material aspects and poor specification of the development framework. Therefore, a comprehensive development index needs to be developed to measure a more holistic approach of development.
format	Conference or Workshop Item
author	Abdul Aziz, SumayyaH Mohd Amin, Ruzita
author_facet	Abdul Aziz, SumayyaH Mohd Amin, Ruzita
author_sort	Abdul Aziz, SumayyaH
title	A critical analysis of development indices
title_short	A critical analysis of development indices
title_full	A critical analysis of development indices
title_fullStr	A critical analysis of development indices
title_full_unstemmed	A critical analysis of development indices
title_sort	critical analysis of development indices
publishDate	2014
url	http://irep.iium.edu.my/41292/ http://irep.iium.edu.my/41292/ http://irep.iium.edu.my/41292/1/A_CRITICAL_ANALYSIS_OF_DEVELOPMENT_INDICES.pdf http://irep.iium.edu.my/41292/2/AABSS_2014.pdf
first_indexed	2023-09-18T20:59:09Z
last_indexed	2023-09-18T20:59:09Z
_version_	1777410506395484160

A critical analysis of development indices

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