Themes in Economics

Measuring Development

An Inequality Dominance Approach

Authors: Banerjee, Asis Kumar

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  • Develops a new method for ranking economies in terms of their levels of development 
  • Obtains robust rankings but has the disadvantage of the possibility (though not the inevitability) of ranking failures, while the existing approach guarantees complete rankings but means having to use a specific index 
  • Provides illustrative empirical applications to show that using the proposed method ,the conditions under which a given pair of economies can be ranked are satisfied in many practical situations
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  • ISBN 978-981-15-6161-0
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About this book

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‚Äôs 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.

An excerpt from the book's Foreword:"[This book] is a comprehensive and valuable contribution to the literature on the measurement of inequality and the use of such measurement in the assessment of social welfare. I believe that it will be of much interest to researchers working on measures of inequality and social welfare as well as advanced graduate students who are looking for a solid introduction to this important area of normative economics."
-          Prof. Prasanta K. Pattanaik, University of California, Riverside, California, U.S.A.

About the authors

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. 

Table of contents (8 chapters)

Table of contents (8 chapters)

Buy this book

eBook $89.00
price for USA in USD
  • ISBN 978-981-15-6161-0
  • Digitally watermarked, DRM-free
  • Included format: PDF, EPUB
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase Institutional customers should get in touch with their account manager
Hardcover $119.99
price for USA in USD
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Bibliographic Information

Bibliographic Information
Book Title
Measuring Development
Book Subtitle
An Inequality Dominance Approach
Authors
Series Title
Themes in Economics
Copyright
2020
Publisher
Springer Singapore
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
eBook ISBN
978-981-15-6161-0
DOI
10.1007/978-981-15-6161-0
Hardcover ISBN
978-981-15-6160-3
Series ISSN
2730-5597
Edition Number
1
Number of Pages
XXI, 230
Number of Illustrations
1 b/w illustrations
Topics