Skip to main content

Generate Shared Link

×

✓ Copied link

This link is exclusively for students and staff members within this organisation.

Unauthorised use will lead to account termination.

Previous

Is the UK becoming more equal?

Next

Devaluation of currencies and its impact on the terms of trade

UNDERSTANDING ECONOMIC DATA

The human development index

The governments of most economies around the world state that the improvement of living standards is a key objective. Steve Stoddard explores why the human development index (HDI) is an important way of measuring relative living standards

Steve Stoddard

© Chinnapong/stock.adobe.com

Economists recognise that purely financial measures of economic development, such as gross domestic product (GDP) or gross national income (GNI) per capita, do not give a full picture of the quality of life of the citizens of a particular country. In response to this view, in 1990, the United Nations Development Programme (UNDP) first published its human development index (HDI).

The HDI is a composite index, meaning that it is made up of several other indices. These are:

Your organisation does not have access to this article.

Sign up today to give your students the edge they need to achieve their best grades with subject expertise

Subscribe

Previous

Is the UK becoming more equal?

Next

Devaluation of currencies and its impact on the terms of trade

Related articles: