Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/61611
Title: Methodological issues in the construction of composite indices : a case study of the human development index
Other Titles: Small states and the pillars of economic resilience
Authors: McGillivray, Mark
Noorbakhsh, Farhad
Gwynne, Beris
Keywords: Income distribution -- Case studies
Macroeconomics -- Case studies
Environment -- Economic aspects
Quality of life -- Case studies
States, Small -- Economic conditions
States, Small -- Economic aspects
Issue Date: 2008
Publisher: University of Malta. Islands and Small States Institute & The Commonwealth Secretariat
Citation: McGillivray, M., Noorbakhsh, F., & Gwynne, B. (2008). Methodological issues in the construction of composite indices: a case study of the human development index. In L. Briguglio, G. Cordina, N Farrugia, & C. Vigilance (Eds.), Small states and the pillars of economic resilience (pp. 385-401). Msida: University of Malta. Islands and Small States Institute & London: The Commonwealth Secretariat
Abstract: This chapter looks at a number of methodological issues relating to the construction of composite indices. It does so by looking at the Human Development Index (HDI), one of the most widely used and arguably best known achieved national composite human well-being index. The challenges faced in constructing the HDI are generic to composite indices in general. After providing an overview of the index and its scores for various countries, this chapter provides a critical evaluation of the HDI. Among the issues considered are the choice of components, index structure, weighting of individual components, transformation of constituent variables and correlations among components. One of the main points made in the chapter is that while there is a need to ensure that the HDI is comparable across countries and over time, there is also a need to ensure that it is relevant to current circumstances, both global and local. The combining of indicators of so-called objective well-being, like the HDI, with measures of subjective well-being is also considered.
URI: https://www.um.edu.mt/library/oar/handle/123456789/61611
ISBN: 978-99909-49-24-7
Appears in Collections:Small states and the pillars of economic resilience

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