Mashup Indices of Development

Countries are increasingly being ranked by some new "mashup index of development," defined as a composite index for which existing theory and practice provides little or no guidance to its design. Thus the index has an unusually large num...

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Main Author:	Ravallion, Martin
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCOUNTABILITY ADMINISTRATION AGGREGATING GOVERNANCE INDICATORS AGGREGATION METHOD AGRICULTURE AID ALLOCATION AIR POLLUTION ANNUAL REPORT AVERAGE INCOME AVERAGING BANK POLICY BENCHMARKING BUDGET CASE CASES CASH TRANSFERS CHILDREN CHOICE CITATIONS CLASSIFICATION COMPARATIVE ECONOMICS COMPETITIVE MARKETS CONCEPT CONCEPTS CONSUMER DURABLES CONSUMERS CONSUMPTION CONTRACTS CORRUPTION COUNTRY EXPERTS CREDIBILITY CREDIT DATA DATA COLLECTION DATA QUALITY DEBT DEBT POLICIES DECISION MAKING DERIVATIVE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT DEVELOPMENT BANK DEVELOPMENT ECONOMICS DEVELOPMENT POLICIES DEVELOPMENT POLICY DISCOUNT ECONOMIC COMPETITIVENESS ECONOMIC DEVELOPMENT ECONOMIC FLUCTUATIONS ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMIC RESOURCES ECONOMIC THEORIES ECONOMICS LITERATURE ELASTICITY ENTRY EQUITY EXCHANGE EXPECTATIONS EXPENDITURE EXPENDITURES FAILURES FINANCE FINANCIAL CRISIS FOREIGN CURRENCY FUTURE GDP GDP PER CAPITA GENERALIZATION GOOD GOODS GOVERNANCE GOVERNANCE VARIABLES GROWTH GROWTH RATE HEADINGS HEALTH HEALTH EFFECTS HEALTH OUTCOMES HOUSEHOLD WEALTH HUMAN DEVELOPMENT HUMAN RESOURCES IMPLEMENTATION INCENTIVES INCOME INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INDEX INDICATORS INDICES INFANT MORTALITY INFLATION INFLATION RATE INFLUENCE INFORMATION INPUTS INSTITUTIONAL ENVIRONMENT INSTITUTIONS INSTRUMENT INSTRUMENTS INTEREST INTERESTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INVESTING INVESTMENT INVESTMENT CLIMATE KNOWLEDGE LENDING LIFE EXPECTANCY LITERACY LIVING STANDARD LIVING STANDARDS LOANS MARGINAL COSTS MARGINAL UTILITY MARKET MARKET PRICES MARKET VALUES MEASUREMENT MEASUREMENT ERRORS MEASUREMENT PROBLEMS MICRO DATA MICRO ENTERPRISE MONEY NATIONAL INCOME OPPORTUNITY COST OUTCOMES POLITICAL PARTICIPATION POLITICAL STABILITY POOR PERFORMANCE PORTFOLIO PORTFOLIO PERFORMANCE POVERTY PRICES PROBABILITY PROPERTIES PROPERTY PROPERTY RIGHTS PUBLIC SECTOR MANAGEMENT PUBLIC SPENDING PURCHASING POWER PURCHASING POWER PARITY QUALITY OF LIFE REAL INCOME REDUCING CHILD MORTALITY REGISTRATION REGULATION REGULATORY QUALITY RETURN REVENUE RISKS RULE OF LAW SECURITY SERVICE SERVICES SHADOW PRICES SHARE SITE SITES SOCIAL EXCLUSION STANDARD STATISTICS STOCK STOCK MARKET STOCK MARKET CAPITALIZATION SUBJECTIVE DATA TAXES TERRORISM THEORY TRADE TRADEOFFS TRANSFER PAYMENT TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT RATE USER USERS UTILITY VALUATION VALUATIONS VALUE VALUE JUDGMENTS VARIABLES VIOLENCE WEALTH WEB WEBSITE WEBSITES WEIGHT WELFARE WORKERS WORLDWIDE GOVERNANCE INDICATORS
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110225103756 http://hdl.handle.net/10986/4001

id	okr-10986-4001
recordtype	oai_dc
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English
topic	ACCOUNTABILITY ADMINISTRATION AGGREGATING GOVERNANCE INDICATORS AGGREGATION METHOD AGRICULTURE AID ALLOCATION AIR POLLUTION ANNUAL REPORT AVERAGE INCOME AVERAGING BANK POLICY BENCHMARKING BUDGET CASE CASES CASH TRANSFERS CHILDREN CHOICE CITATIONS CLASSIFICATION COMPARATIVE ECONOMICS COMPETITIVE MARKETS CONCEPT CONCEPTS CONSUMER DURABLES CONSUMERS CONSUMPTION CONTRACTS CORRUPTION COUNTRY EXPERTS CREDIBILITY CREDIT DATA DATA COLLECTION DATA QUALITY DEBT DEBT POLICIES DECISION MAKING DERIVATIVE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT DEVELOPMENT BANK DEVELOPMENT ECONOMICS DEVELOPMENT POLICIES DEVELOPMENT POLICY DISCOUNT ECONOMIC COMPETITIVENESS ECONOMIC DEVELOPMENT ECONOMIC FLUCTUATIONS ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMIC RESOURCES ECONOMIC THEORIES ECONOMICS LITERATURE ELASTICITY ENTRY EQUITY EXCHANGE EXPECTATIONS EXPENDITURE EXPENDITURES FAILURES FINANCE FINANCIAL CRISIS FOREIGN CURRENCY FUTURE GDP GDP PER CAPITA GENERALIZATION GOOD GOODS GOVERNANCE GOVERNANCE VARIABLES GROWTH GROWTH RATE HEADINGS HEALTH HEALTH EFFECTS HEALTH OUTCOMES HOUSEHOLD WEALTH HUMAN DEVELOPMENT HUMAN RESOURCES IMPLEMENTATION INCENTIVES INCOME INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INDEX INDICATORS INDICES INFANT MORTALITY INFLATION INFLATION RATE INFLUENCE INFORMATION INPUTS INSTITUTIONAL ENVIRONMENT INSTITUTIONS INSTRUMENT INSTRUMENTS INTEREST INTERESTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INVESTING INVESTMENT INVESTMENT CLIMATE KNOWLEDGE LENDING LIFE EXPECTANCY LITERACY LIVING STANDARD LIVING STANDARDS LOANS MARGINAL COSTS MARGINAL UTILITY MARKET MARKET PRICES MARKET VALUES MEASUREMENT MEASUREMENT ERRORS MEASUREMENT PROBLEMS MICRO DATA MICRO ENTERPRISE MONEY NATIONAL INCOME OPPORTUNITY COST OUTCOMES POLITICAL PARTICIPATION POLITICAL STABILITY POOR PERFORMANCE PORTFOLIO PORTFOLIO PERFORMANCE POVERTY PRICES PROBABILITY PROPERTIES PROPERTY PROPERTY RIGHTS PUBLIC SECTOR MANAGEMENT PUBLIC SPENDING PURCHASING POWER PURCHASING POWER PARITY QUALITY OF LIFE REAL INCOME REDUCING CHILD MORTALITY REGISTRATION REGULATION REGULATORY QUALITY RETURN REVENUE RISKS RULE OF LAW SECURITY SERVICE SERVICES SHADOW PRICES SHARE SITE SITES SOCIAL EXCLUSION STANDARD STATISTICS STOCK STOCK MARKET STOCK MARKET CAPITALIZATION SUBJECTIVE DATA TAXES TERRORISM THEORY TRADE TRADEOFFS TRANSFER PAYMENT TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT RATE USER USERS UTILITY VALUATION VALUATIONS VALUE VALUE JUDGMENTS VARIABLES VIOLENCE WEALTH WEB WEBSITE WEBSITES WEIGHT WELFARE WORKERS WORLDWIDE GOVERNANCE INDICATORS
spellingShingle	ACCOUNTABILITY ADMINISTRATION AGGREGATING GOVERNANCE INDICATORS AGGREGATION METHOD AGRICULTURE AID ALLOCATION AIR POLLUTION ANNUAL REPORT AVERAGE INCOME AVERAGING BANK POLICY BENCHMARKING BUDGET CASE CASES CASH TRANSFERS CHILDREN CHOICE CITATIONS CLASSIFICATION COMPARATIVE ECONOMICS COMPETITIVE MARKETS CONCEPT CONCEPTS CONSUMER DURABLES CONSUMERS CONSUMPTION CONTRACTS CORRUPTION COUNTRY EXPERTS CREDIBILITY CREDIT DATA DATA COLLECTION DATA QUALITY DEBT DEBT POLICIES DECISION MAKING DERIVATIVE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT DEVELOPMENT BANK DEVELOPMENT ECONOMICS DEVELOPMENT POLICIES DEVELOPMENT POLICY DISCOUNT ECONOMIC COMPETITIVENESS ECONOMIC DEVELOPMENT ECONOMIC FLUCTUATIONS ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMIC RESOURCES ECONOMIC THEORIES ECONOMICS LITERATURE ELASTICITY ENTRY EQUITY EXCHANGE EXPECTATIONS EXPENDITURE EXPENDITURES FAILURES FINANCE FINANCIAL CRISIS FOREIGN CURRENCY FUTURE GDP GDP PER CAPITA GENERALIZATION GOOD GOODS GOVERNANCE GOVERNANCE VARIABLES GROWTH GROWTH RATE HEADINGS HEALTH HEALTH EFFECTS HEALTH OUTCOMES HOUSEHOLD WEALTH HUMAN DEVELOPMENT HUMAN RESOURCES IMPLEMENTATION INCENTIVES INCOME INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INDEX INDICATORS INDICES INFANT MORTALITY INFLATION INFLATION RATE INFLUENCE INFORMATION INPUTS INSTITUTIONAL ENVIRONMENT INSTITUTIONS INSTRUMENT INSTRUMENTS INTEREST INTERESTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INVESTING INVESTMENT INVESTMENT CLIMATE KNOWLEDGE LENDING LIFE EXPECTANCY LITERACY LIVING STANDARD LIVING STANDARDS LOANS MARGINAL COSTS MARGINAL UTILITY MARKET MARKET PRICES MARKET VALUES MEASUREMENT MEASUREMENT ERRORS MEASUREMENT PROBLEMS MICRO DATA MICRO ENTERPRISE MONEY NATIONAL INCOME OPPORTUNITY COST OUTCOMES POLITICAL PARTICIPATION POLITICAL STABILITY POOR PERFORMANCE PORTFOLIO PORTFOLIO PERFORMANCE POVERTY PRICES PROBABILITY PROPERTIES PROPERTY PROPERTY RIGHTS PUBLIC SECTOR MANAGEMENT PUBLIC SPENDING PURCHASING POWER PURCHASING POWER PARITY QUALITY OF LIFE REAL INCOME REDUCING CHILD MORTALITY REGISTRATION REGULATION REGULATORY QUALITY RETURN REVENUE RISKS RULE OF LAW SECURITY SERVICE SERVICES SHADOW PRICES SHARE SITE SITES SOCIAL EXCLUSION STANDARD STATISTICS STOCK STOCK MARKET STOCK MARKET CAPITALIZATION SUBJECTIVE DATA TAXES TERRORISM THEORY TRADE TRADEOFFS TRANSFER PAYMENT TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT RATE USER USERS UTILITY VALUATION VALUATIONS VALUE VALUE JUDGMENTS VARIABLES VIOLENCE WEALTH WEB WEBSITE WEBSITES WEIGHT WELFARE WORKERS WORLDWIDE GOVERNANCE INDICATORS Ravallion, Martin Mashup Indices of Development
geographic_facet	The World Region The World Region
relation	Policy Research working paper ; no. WPS 5432
description	Countries are increasingly being ranked by some new "mashup index of development," defined as a composite index for which existing theory and practice provides little or no guidance to its design. Thus the index has an unusually large number of moving parts, which the producer is essentially free to set. The parsimony of these indices is often appealing -- collapsing multiple dimensions into just one, yielding unambiguous country rankings, and possibly reducing concerns about measurement errors in the component series. But the meaning, interpretation and robustness of these indices are often unclear. If they are to be properly understood and used, more attention needs to be given to their conceptual foundations, the tradeoffs they embody, the contextual factors relevant to country performance, and the sensitivity of the implied rankings to changing the data and weights. In short, clearer warning signs are needed for users. But even then, nagging doubts remain about the value-added of mashup indices, and their policy relevance, relative to the "dashboard" alternative of monitoring the components separately. Future progress in devising useful new composite indices of development will require that theory catches up with measurement practice.
format	Publications & Research :: Policy Research Working Paper
author	Ravallion, Martin
author_facet	Ravallion, Martin
author_sort	Ravallion, Martin
title	Mashup Indices of Development
title_short	Mashup Indices of Development
title_full	Mashup Indices of Development
title_fullStr	Mashup Indices of Development
title_full_unstemmed	Mashup Indices of Development
title_sort	mashup indices of development
publishDate	2012
url	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110225103756 http://hdl.handle.net/10986/4001
_version_	1764389425897275392
spelling	okr-10986-40012021-04-23T14:02:14Z Mashup Indices of Development Ravallion, Martin ACCOUNTABILITY ADMINISTRATION AGGREGATING GOVERNANCE INDICATORS AGGREGATION METHOD AGRICULTURE AID ALLOCATION AIR POLLUTION ANNUAL REPORT AVERAGE INCOME AVERAGING BANK POLICY BENCHMARKING BUDGET CASE CASES CASH TRANSFERS CHILDREN CHOICE CITATIONS CLASSIFICATION COMPARATIVE ECONOMICS COMPETITIVE MARKETS CONCEPT CONCEPTS CONSUMER DURABLES CONSUMERS CONSUMPTION CONTRACTS CORRUPTION COUNTRY EXPERTS CREDIBILITY CREDIT DATA DATA COLLECTION DATA QUALITY DEBT DEBT POLICIES DECISION MAKING DERIVATIVE DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPMENT DEVELOPMENT BANK DEVELOPMENT ECONOMICS DEVELOPMENT POLICIES DEVELOPMENT POLICY DISCOUNT ECONOMIC COMPETITIVENESS ECONOMIC DEVELOPMENT ECONOMIC FLUCTUATIONS ECONOMIC GROWTH ECONOMIC INEQUALITY ECONOMIC PERFORMANCE ECONOMIC RESEARCH ECONOMIC RESOURCES ECONOMIC THEORIES ECONOMICS LITERATURE ELASTICITY ENTRY EQUITY EXCHANGE EXPECTATIONS EXPENDITURE EXPENDITURES FAILURES FINANCE FINANCIAL CRISIS FOREIGN CURRENCY FUTURE GDP GDP PER CAPITA GENERALIZATION GOOD GOODS GOVERNANCE GOVERNANCE VARIABLES GROWTH GROWTH RATE HEADINGS HEALTH HEALTH EFFECTS HEALTH OUTCOMES HOUSEHOLD WEALTH HUMAN DEVELOPMENT HUMAN RESOURCES IMPLEMENTATION INCENTIVES INCOME INCOME DISTRIBUTION INCOME GROWTH INCOME INEQUALITY INDEX INDICATORS INDICES INFANT MORTALITY INFLATION INFLATION RATE INFLUENCE INFORMATION INPUTS INSTITUTIONAL ENVIRONMENT INSTITUTIONS INSTRUMENT INSTRUMENTS INTEREST INTERESTS INTERNATIONAL BANK INTERNATIONAL DEVELOPMENT INVESTING INVESTMENT INVESTMENT CLIMATE KNOWLEDGE LENDING LIFE EXPECTANCY LITERACY LIVING STANDARD LIVING STANDARDS LOANS MARGINAL COSTS MARGINAL UTILITY MARKET MARKET PRICES MARKET VALUES MEASUREMENT MEASUREMENT ERRORS MEASUREMENT PROBLEMS MICRO DATA MICRO ENTERPRISE MONEY NATIONAL INCOME OPPORTUNITY COST OUTCOMES POLITICAL PARTICIPATION POLITICAL STABILITY POOR PERFORMANCE PORTFOLIO PORTFOLIO PERFORMANCE POVERTY PRICES PROBABILITY PROPERTIES PROPERTY PROPERTY RIGHTS PUBLIC SECTOR MANAGEMENT PUBLIC SPENDING PURCHASING POWER PURCHASING POWER PARITY QUALITY OF LIFE REAL INCOME REDUCING CHILD MORTALITY REGISTRATION REGULATION REGULATORY QUALITY RETURN REVENUE RISKS RULE OF LAW SECURITY SERVICE SERVICES SHADOW PRICES SHARE SITE SITES SOCIAL EXCLUSION STANDARD STATISTICS STOCK STOCK MARKET STOCK MARKET CAPITALIZATION SUBJECTIVE DATA TAXES TERRORISM THEORY TRADE TRADEOFFS TRANSFER PAYMENT TRANSPARENCY UNEMPLOYMENT UNEMPLOYMENT RATE USER USERS UTILITY VALUATION VALUATIONS VALUE VALUE JUDGMENTS VARIABLES VIOLENCE WEALTH WEB WEBSITE WEBSITES WEIGHT WELFARE WORKERS WORLDWIDE GOVERNANCE INDICATORS Countries are increasingly being ranked by some new "mashup index of development," defined as a composite index for which existing theory and practice provides little or no guidance to its design. Thus the index has an unusually large number of moving parts, which the producer is essentially free to set. The parsimony of these indices is often appealing -- collapsing multiple dimensions into just one, yielding unambiguous country rankings, and possibly reducing concerns about measurement errors in the component series. But the meaning, interpretation and robustness of these indices are often unclear. If they are to be properly understood and used, more attention needs to be given to their conceptual foundations, the tradeoffs they embody, the contextual factors relevant to country performance, and the sensitivity of the implied rankings to changing the data and weights. In short, clearer warning signs are needed for users. But even then, nagging doubts remain about the value-added of mashup indices, and their policy relevance, relative to the "dashboard" alternative of monitoring the components separately. Future progress in devising useful new composite indices of development will require that theory catches up with measurement practice. 2012-03-19T18:43:39Z 2012-03-19T18:43:39Z 2010-09-01 http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20110225103756 http://hdl.handle.net/10986/4001 English Policy Research working paper ; no. WPS 5432 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Policy Research Working Paper The World Region The World Region

Mashup Indices of Development

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