Examining the Relationship Between Human Development Index and Socio-Economic Variables: A Panel Data Analysis / Siti Ayu Jalil, Mohamad Nadzrul Kamaruddin

Jalil, Siti Ayu and Kamaruddin, Mohamad Nadzrul (2018) Examining the Relationship Between Human Development Index and Socio-Economic Variables: A Panel Data Analysis / Siti Ayu Jalil, Mohamad Nadzrul Kamaruddin. Journal of International Business, Economics and Entrepreneurship, 3 (2). pp. 37-44. ISSN 2550-1429 (Submitted)

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Abstract

Human Development Index (HDI) measures the average achievements from three basic dimensions of human development: a long and healthy life, access to knowledge and a decent standard of living. This study is to investigate the impact of socio-economic variables represented by the three dimensions i.e. mean years of schooling, expected years of schooling, gross domestic product, life expectancy and health expenditure on HDI in fifteen selected developing countries within a 5-year period (2010-2014). The panel data analysis tested the pooled regression model, fixed effects and random effects models. The findings indicated that the Panel Fixed Effects Model (FEM) has proven to be the best model to describe the study. From the FEM model, four predictors have shown significant positive effect on human development index which are, the mean years of schooling, expected years of schooling, life expectancy and GDP per capita whereas, health expenditure is the only variable that shows insignificant relationship. Hence, it can be stated that in these fifteen selected nations despite education and higher GDP are essential to achieve a higher level of HDI, life expectancy is also perceived as a vital indicator to imply a better level of HDI.

Item Type: Article
Creators:
CreatorsID Num.
Jalil, Siti AyuUNSPECIFIED
Kamaruddin, Mohamad NadzrulUNSPECIFIED
Subjects: Q Science > QA Mathematics > Analysis
Divisions: Universiti Teknologi MARA, Selangor > Puncak Alam Campus > Faculty of Business and Management (B)
Journal or Publication Title: Journal of International Business, Economics and Entrepreneurship
ISSN: 2550-1429
Volume: 3
Number: 2
Page Range: pp. 37-44
Item ID: 23213
Uncontrolled Keywords: Human Development Index, Panel data, Fixed effects model, Random effects model
Last Modified: 22 Feb 2019 03:42
Depositing User: Perpustakaan Tun Abdul Razak UiTM Kampus Puncak Alam
URI: http://ir.uitm.edu.my/id/eprint/23213

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