Measuring Development: An Inequality Dominance Approach
- 6h 17m
- Asis Kumar Banerjee
- Springer
- 2020
This book discusses how to measure the level of development of an economy, particularly, the task of ranking economies in terms of their development. In this context, development is defined as an increase in people’s level of wellbeing. The book emphasises that wellbeing is a multidimensional concept, and that it is important to ask how equitably the fruits of development are distributed, and as such it focuses on multidimensional, inequality-sensitive development ranking. Rather than using various specific development indices, which would lead to different development rankings for a country, the book proposes a dominance approach, which formulates conditions under which two economies can be ranked unambiguously, making it valid for all reasonable development indices. With the help of illustrative examples using real-world data, it demonstrates that such unambiguous rankings are possible, and that the proposed approach can be used to complement traditional approaches. An invaluable resource for researchers working in the field of development, the book will also appeal to practitioners engaged in measuring development.
About the Author
Asis Kumar Banerjee is a former Vice-Chancellor and a former Professor of Economics at the University of Calcutta. He holds an M.A. in Economics from the same university, and a Ph.D. in Economics from Johns Hopkins University. He has been associated with Presidency College, Calcutta; the Indian Statistical Institute, New Delhi; and the University of California, Riverside, California. His research interests include welfare economics, game theory and economic development.
In this Book
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Foreword
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Abbreviations
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Setting the Stage—Types of Measures and Alternative Notions of Development
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Toward an Inequality-Sensitive Measure of Development—The Unidimensional Case
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Unidimensional Development Ranking and Fuzzy Lorenz Dominance
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Illustrative Applications of Unidimensional Development Indices
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Multidimensional Lorenz Dominance
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Multidimensional Inequality-Sensitive Development Ranking
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An Illustration—Multidimensional Development and Inter-State Inequality in India in the 2000s
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Overview and Concluding Remarks
