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, Abdullah Yusof, Selamah, Haneef, Mohamed Aslam, Mohamed, Mustafa Omar, Oziev, Gapur
Format:	Article
Language:	English
Published:	Australian Academy of Business and Social Sciences (AJSBS) 2015
Subjects:	HB Economic Theory
Online Access:	http://irep.iium.edu.my/47760/ http://irep.iium.edu.my/47760/ http://irep.iium.edu.my/47760/1/000981-published-ajsbs.pdf

id	iium-47760
recordtype	eprints
spelling	iium-477602017-11-24T08:35:13Z http://irep.iium.edu.my/47760/ A critical analysis of development indices Abdul Aziz, Sumayyah Mohd Amin, Ruzita Abdullah Yusof, Selamah Haneef, Mohamed Aslam Mohamed, Mustafa Omar Oziev, Gapur HB Economic Theory 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. Australian Academy of Business and Social Sciences (AJSBS) 2015-03 Article PeerReviewed application/pdf en http://irep.iium.edu.my/47760/1/000981-published-ajsbs.pdf Abdul Aziz, Sumayyah and Mohd Amin, Ruzita and Abdullah Yusof, Selamah and Haneef, Mohamed Aslam and Mohamed, Mustafa Omar and Oziev, Gapur (2015) A critical analysis of development indices. Australian Journal of Sustainable Business and Society, 1 (1). pp. 37-53. ISSN 2204-681X E-ISSN 2204-7751 https://www.aabss.org.au/australian-journal-sustainable-business-and-society/volume-1/number-1
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HB Economic Theory
spellingShingle	HB Economic Theory Abdul Aziz, Sumayyah Mohd Amin, Ruzita Abdullah Yusof, Selamah Haneef, Mohamed Aslam Mohamed, Mustafa Omar Oziev, Gapur 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	Article
author	Abdul Aziz, Sumayyah Mohd Amin, Ruzita Abdullah Yusof, Selamah Haneef, Mohamed Aslam Mohamed, Mustafa Omar Oziev, Gapur
author_facet	Abdul Aziz, Sumayyah Mohd Amin, Ruzita Abdullah Yusof, Selamah Haneef, Mohamed Aslam Mohamed, Mustafa Omar Oziev, Gapur
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
publisher	Australian Academy of Business and Social Sciences (AJSBS)
publishDate	2015
url	http://irep.iium.edu.my/47760/ http://irep.iium.edu.my/47760/ http://irep.iium.edu.my/47760/1/000981-published-ajsbs.pdf
first_indexed	2023-09-18T21:07:55Z
last_indexed	2023-09-18T21:07:55Z
_version_	1777411058025103360

A critical analysis of development indices

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