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Wealth-adjusted Human Development Index
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DOI：10.1016/j.jclepro.2021.128587.png)
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Abstract
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It has been shown that the development of a country's people stems from its wealth, which is characterized by human, social, and natural capital, but an assessment of the Human Development Index adjusted for wealth is still missing in the literature. There are large differentiations in the productive bases of countries, and the Human Development Index alone does not allow for encompassing the systems' ability for fostering human development from the endowment of resources available. The input-to-output link between the resources and human development reflects the systems' ability to optimise assets. This paper introduces an evaluation of the Human Development Index adjusted for the comprehensive wealth of countries using an ordinal non-compensatory technique that is robust to outliers, and which allows for the consideration of environmental factors and non discretional inputs. Results show relevant changes in ranking when Human Development Indexes is adjusted for wealth. Decreases in the Human Development Index when wealth is considered, are observed in North America, the Middle East & North Africa, while increases in the Human Development Index when wealth is considered, are observed in most Sub-Saharan African and South Asian countries. The unexplored link between wealth and human development reveals an unprecedented heterogeneity among countries that is affected by economic, social, and institutional factors. The gaps in these factors must be further investigated if the increase of human development is to be implemented because efficient long-term management of natural resources is necessary for sustainability.
Keywords:
Human development
Comprehensive wealth
Ordinal assessments
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