Theoretical and Applied Economics
No. 3 / 2023 (636), Autumn
A proposal for modified human development index for BRICS countries. A holistic approach towards sustainable human development
Central University of Rajasthan, Ajmer, India
Hemlata MANGLANI
Central University of Rajasthan, Ajmer, India
Abstract. Study attempts to align HDI with the Sustainable Human Development approach. Modified HDI, integrating employment, human values, environmental sustainability, quality aspects of health and education, as a simple generalization within the structure of the existing methodology, is developed for BRICS countries for the period 2000-2019. Proposed MHDI's environmental sustainability dimension index was created using Principal Component Analysis. Framed dimensional indices were regressed on the MHDI values, followed by post-hoc analysis, assisted in generating policy implications. Computed MHDI scores were lower than HDI values for all BRICS members, indicating a lower human development scenario in these countries than what HDI perceives.
Keywords: BRICS, sustainable human development, modified human development index, principal component analysis, post-hoc analysis.
Contents
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An international perspective
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- Comparative study on the global performance of companies with foreign capital
and those with Romanian capital
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Denis-Arthur STRIJEK
Marius-Cristian RĂDUȚ
- A proposal for modified human development
index for BRICS countries.
A holistic approach towards sustainable
human development
Bhawna MUDGAL
Hemlata MANGLANI
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on stock market volatility in Belgium
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