Econometrics report factors affecting the human development index (hdi) of countries around the world in the period 2015 2019

Table of content 1. Introduction 4 2. Overview of the topic 5 2.1. Theoretical framework 5 2.1.1 Definition of HDI 5 2.1.2. Formula of HDI 6 2.2. Literature Review 6 3. Research methodology 9 3.1. Methodology 9 3.2. Empirical Model 9 3.2.1. Model Specification 9 3.2.2. Variables Description 10 3.3. Data 11 3.3.1. Source of data 11 3.3.2. Descriptive statistics and variables interpretation 12 3.3.3. Correlation matrix between variables 12 4. Quantitative analysis 13 4.1. Choosing the Estimated Model 13 4.1.1. Breusch Pagan test 13 4.1.2 Hausman test 14 4.1.3. Testing for multicollinearity 17 4.1.4. Testing for heteroskedasticity 18 4.1.5 Testing for serial autocorrelation 19 4.2. Fixing the model 20 References 24 Data 27   1. Introduction Human development has been a topic of interest for scholars and organizations worldwide for many years. In the 1980s and 1990s, the United Nations Development Programme (UNDP) recommended human development as a necessary theory for socioeconomic development and presented it in their annual report. The UNDP believes that the true purpose of a nation is its people, and the goal of development should be to create a favorable environment that enables people to enjoy long, healthy, and creative lives. development is a humancentered perspective that emphasizes investing in growing human potential in areas such as education, healthcare, and skills. This investment enables humans to work creatively and effectively, without borders. It also means ensuring that economic growth is distributed widely and fairly.

https://tailieuluatkinhte.com/ FOREIGN TRADE UNIVERSITY FACULTY OF INTERNATIONAL ECONOMICS — *** - MID-TERM REPORT Module: Econometrics FACTORS AFFECTING THE HUMAN DEVELOPMENT INDEX (HDI) OF COUNTRIES AROUND THE WORLD IN THE PERIOD 2015 - 2019 Group: Class: KTEE318 Instructors: PhD Dinh Thanh Binh Ha Noi, June 2023 Table of content ECONOMETRICS REPORT GROUP Introduction Overview of the topic 2.1 Theoretical framework 2.1.1 Definition of HDI 2.1.2 Formula of HDI 2.2 Literature Review Research methodology 3.1 Methodology 3.2 Empirical Model 3.2.1 Model Specification 3.2.2 Variables Description 3.3 Data 3.3.1 Source of data 3.3.2 Descriptive statistics and variables interpretation 3.3.3 Correlation matrix between variables Quantitative analysis 4.1 Choosing the Estimated Model 4.1.1 Breusch - Pagan test 4.1.2 Hausman test 4.1.3 Testing for multicollinearity 4.1.4 Testing for heteroskedasticity 4.1.5 Testing for serial auto-correlation 4.2 Fixing the model References Data ECONOMETRICS REPORT GROUP Introduction Human development has been a topic of interest for scholars and organizations worldwide for many years In the 1980s and 1990s, the United Nations Development Programme (UNDP) recommended human development as a necessary theory for socioeconomic development and presented it in their annual report The UNDP believes that the true purpose of a nation is its people, and the goal of development should be to create a favorable environment that enables people to enjoy long, healthy, and creative lives development is a human-centered perspective that emphasizes investing in growing human potential in areas such as education, healthcare, and skills This investment enables humans to work creatively and effectively, without borders It also means ensuring that economic growth is distributed widely and fairly Recognizing the value of the HDI, our research group identified the need for a study on the factors affecting the HDI Our goal is to comprehensively and fully evaluate the factors affecting human development in relation to the development of the economy Therefore, our research team chose the topic “Factors affecting the human development index (HDI) of countries around the world in the period 2015 - 2019” for our report The general purpose of this study is to comprehensively and fully evaluate the factors affecting human development in relation to the development of the economy by employing dependent variable (HDI) and independent variables (FER, InGNI, GINI, MYS, InLEB, GOV, POVER, Developed) Meanwhile, this study specifically aims to: (1) Collecting and processing data on variables directly related to the HDI is essential to understanding the factors that affect human development progress in different countries This involves gathering data on indicators such as MYS - Mean Years of Schooling Index, GOV - Government expenditure on education, …; (2) Building a suitable and impeccable model to accurately analyzing the data collected; (3) Introducing novelty and overcoming some limitations of a few previous studies on the HDI; (4) Offering recommendations and solutions to several HDI-related problems is the final objective of the research The research subjects of the report are countries around the world, including developing and developed countries, namely: Albania, Armenia, Austria, Belgium, Bulgaria, Belarus, Bolivia, Brazil, Columbia, Costa Rica, Cyprus, Czechia, Denmark, ECONOMETRICS REPORT GROUP Dominican Republic, Ecuador, Spain, Estonia, Finland, France, United Kingdom, Georgia, Greece, Croatia, Hungary, Indonesia, Ireland, Italy, Kyrgyz Republic, Lithuania, Luxembourg, Latvia, Malta, Netherlands, peru, Portugal paraguay, Romania, Russian Federation, Serbia, Slovenia, Sweden, Thailand, Ukraine, Uruguay, United States The study will centralize on factors influencing the HDI index of these countries, in order to find lessons learned and provide policy recommendations In this report, we focus on the period from 2015-2019, with the subject of countries over the world In this report we will use a quantitative method Regression method: we uses the regression method for panel data to evaluate the estimated factors that affect the HDI index of 45 countries during the period 2015-2019 The model results serve as the basis for recommendation The report include main chapters: Chapter 1: Introduction Chapter 2: Overview of the topic Chapter 3: Research Methodology Chapter 4: Quantitative Analysis Overview of the topic 2.1 Theoretical framework 2.1.1 Definition of HDI The Human Development Index (HDI) is a comparative and quantitative index of income level, literacy rate, life expectancy, and other factors of countries worldwide HDI provides a general overview of a nation's development This index was developed in 1990 by Pakistani economist Mahbub ul Haq and Indian economist Amartya Sen According to Mahbub ul Haq, who laid the foundation for the Human Development Reports, "The basic purpose of development is to expand people's choices In principle, these choices can be infinite and can change over time, but they often include: greater access to knowledge, better nutrition and healthcare, a guaranteed standard of living, protection from violence and crime, leisure time, freedom in cultural and political life, and participation in community activities The goal of development is to ECONOMETRICS REPORT GROUP create an environment that enables individuals to enjoy a healthy, long, and creative life" (UNDP, 2010) The HDI index attracts the attention of policymakers, the media, and nongovernmental organizations because it not only focuses on purely economic statistics but also highlights achievements in human development This index emphasizes that it is the human beings and their capabilities, rather than just economic growth, that constitute the highest criteria for assessing a country's level of development 2.1.2 Formula of HDI The Human Development Index is a composite index that measures a country's achievements in three dimensions of human development: health, education, and decent standard of living Health is measured by the life expectancy at birth ( I a) The education level index ( I e) is a composite of two indicators: the average years of schooling ( I my) and the expected years of schooling (ley) The standard of living index ( I ¿) is measured by the Gross National Income (GNI) per capita, calculated in USD using purchasing power parity (PPP USD) (UNDP, 2010) In terms of formula, we have: HDI =√3 I a∗I e∗I my HDI ranges from to The more it approaches 1, the higher human development level reaches On the other hand, when the index approaches 0, the trend of human development tends to decrease According to Human Development Report (2021), every country is categorized into groups in regard of HDI index: ● HDI