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2015•RePEc: Research Papers in EconomicsOpen access

Economic Growth And Growth In Human Development

Stephen G. Grubaugh

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Abstract

Dynamic panel estimates of economic growth using standard measurements of GDP per capita are compared to estimates of a model of growth in the Human Development Index (HDI) developed by the United Nations. The only independent variables that are found to be significantly related to growth in HDI are population, population growth, and the initial level of GDP. The differences in the two models cannot be simply explained as HDI measuring the same effect as GDP. Restricting the sample to only developing countries and estimating the model using the HDI rank order of countries does not significantly alter the results.

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Dynamic panel estimates of economic growth using standard measurements of GDP per capita are compared to estimates of a model of growth in the Human Development Index (HDI) developed by the United Nations. The only independent variables that are found to be significantly related to growth in HDI are population, population growth, and the initial level of GDP. The differences in the two models cannot be simply explained as HDI measuring the same effect as GDP. Restricting the sample to only developing countries and estimating the model using the HDI rank order of countries does not significantly alter the results.

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Available abstract

Dynamic panel estimates of economic growth using standard measurements of GDP per capita are compared to estimates of a model of growth in the Human Development Index (HDI) developed by the United Nations. The only independent variables that are found to be significantly related to growth in HDI are population, population growth, and the initial level of GDP. The differences in the two models cannot be simply explained as HDI measuring the same effect as GDP. Restricting the sample to only developing countries and estimating the model using the HDI rank order of countries does not significantly alter the results.

Key concepts: Human Development Index, Economics, Per capita, Econometrics, Index (typography), Population, Sample (material), Population growth

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