Empirical Analysis of the Transformation of Economic Growth into Social Development at an International Level
This paper takes a look at the countries of the world and their rankings in terms of material wealth. Using the attributes and variables featured in the development of these countries and synthetic indexes, it analyzes the relationship between wealth levels and estimates of social development. First we use the indicators estimated by UNDP. Using UNDP methodology and multivariate statistical methods such as factor analysis, we then turn to complementary estimators. Our results not only allow us to identify which countries are better (or worse) at turning economic growth into social development but they also contribute to detecting the dimensions of development behind position changes across various rankings.