Mashup Indices of Development
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Countries are increasingly being ranked
by some new "mashup index of development," defined
as a composite index for which existing theory and practice
provides little or no guidance to its design. Thus the index
has an unusually large number of moving parts, which the
producer is essentially free to set. The parsimony of these
indices is often appealing -- collapsing multiple dimensions
into just one, yielding unambiguous country rankings, and
possibly reducing concerns about measurement errors in the
component series. But the meaning, interpretation and
robustness of these indices are often unclear. If they are
to be properly understood and used, more attention needs to
be given to their conceptual foundations, the tradeoffs they
embody, the contextual factors relevant to country
performance, and the sensitivity of the implied rankings to
changing the data and weights. In short, clearer warning
signs are needed for users. But even then, nagging doubts
remain about the value-added of mashup indices, and their
policy relevance, relative to the "dashboard"
alternative of monitoring the components separately. Future
progress in devising useful new composite indices of
development will require that theory catches up with
measurement practice.
Palabras clave
ACCOUNTABILITY, ADMINISTRATION, AGGREGATING GOVERNANCE INDICATORS, AGGREGATION METHOD, AGRICULTURE, AID ALLOCATION, AIR POLLUTION, ANNUAL REPORT, AVERAGE INCOME, AVERAGING, BANK POLICY, BENCHMARKING, BUDGET, CASE, CASES, CASH TRANSFERS, CHILDREN, CHOICE, CITATIONS, CLASSIFICATION, COMPARATIVE ECONOMICS, COMPETITIVE MARKETS, CONCEPT, CONCEPTS, CONSUMER DURABLES, CONSUMERS, CONSUMPTION, CONTRACTS, CORRUPTION, COUNTRY EXPERTS, CREDIBILITY, CREDIT, DATA, DATA COLLECTION, DATA QUALITY, DEBT, DEBT POLICIES, DECISION MAKING, DERIVATIVE, DEVELOPING COUNTRIES, DEVELOPING COUNTRY, DEVELOPMENT, DEVELOPMENT BANK, DEVELOPMENT ECONOMICS, DEVELOPMENT POLICIES, DEVELOPMENT POLICY, DISCOUNT, ECONOMIC COMPETITIVENESS, ECONOMIC DEVELOPMENT, ECONOMIC FLUCTUATIONS, ECONOMIC GROWTH, ECONOMIC INEQUALITY, ECONOMIC PERFORMANCE, ECONOMIC RESEARCH, ECONOMIC RESOURCES, ECONOMIC THEORIES, ECONOMICS LITERATURE, ELASTICITY, ENTRY, EQUITY, EXCHANGE, EXPECTATIONS, EXPENDITURE, EXPENDITURES, FAILURES, FINANCE, FINANCIAL CRISIS, FOREIGN CURRENCY, FUTURE, GDP, GDP PER CAPITA, GENERALIZATION, GOOD, GOODS, GOVERNANCE, GOVERNANCE VARIABLES, GROWTH, GROWTH RATE, HEADINGS, HEALTH, HEALTH EFFECTS, HEALTH OUTCOMES, HOUSEHOLD WEALTH, HUMAN DEVELOPMENT, HUMAN RESOURCES, IMPLEMENTATION, INCENTIVES, INCOME, INCOME DISTRIBUTION, INCOME GROWTH, INCOME INEQUALITY, INDEX, INDICATORS, INDICES, INFANT MORTALITY, INFLATION, INFLATION RATE, INFLUENCE, INFORMATION, INPUTS, INSTITUTIONAL ENVIRONMENT, INSTITUTIONS, INSTRUMENT, INSTRUMENTS, INTEREST, INTERESTS, INTERNATIONAL BANK, INTERNATIONAL DEVELOPMENT, INVESTING, INVESTMENT, INVESTMENT CLIMATE, KNOWLEDGE, LENDING, LIFE EXPECTANCY, LITERACY, LIVING STANDARD, LIVING STANDARDS, LOANS, MARGINAL COSTS, MARGINAL UTILITY, MARKET, MARKET PRICES, MARKET VALUES, MEASUREMENT, MEASUREMENT ERRORS, MEASUREMENT PROBLEMS, MICRO DATA, MICRO ENTERPRISE, MONEY, NATIONAL INCOME, OPPORTUNITY COST, OUTCOMES, POLITICAL PARTICIPATION, POLITICAL STABILITY, POOR PERFORMANCE, PORTFOLIO, PORTFOLIO PERFORMANCE, POVERTY, PRICES, PROBABILITY, PROPERTIES, PROPERTY, PROPERTY RIGHTS, PUBLIC SECTOR MANAGEMENT, PUBLIC SPENDING, PURCHASING POWER, PURCHASING POWER PARITY, QUALITY OF LIFE, REAL INCOME, REDUCING CHILD MORTALITY, REGISTRATION, REGULATION, REGULATORY QUALITY, RETURN, REVENUE, RISKS, RULE OF LAW, SECURITY, SERVICE, SERVICES, SHADOW PRICES, SHARE, SITE, SITES, SOCIAL EXCLUSION, STANDARD, STATISTICS, STOCK, STOCK MARKET, STOCK MARKET CAPITALIZATION, SUBJECTIVE DATA, TAXES, TERRORISM, THEORY, TRADE, TRADEOFFS, TRANSFER PAYMENT, TRANSPARENCY, UNEMPLOYMENT, UNEMPLOYMENT RATE, USER, USERS, UTILITY, VALUATION, VALUATIONS, VALUE, VALUE JUDGMENTS, VARIABLES, VIOLENCE, WEALTH, WEB, WEBSITE, WEBSITES, WEIGHT, WELFARE, WORKERS, WORLDWIDE GOVERNANCE INDICATORS