Mongolia’s Human Development Index: How accurate is it? | Ubpost News: "I cannot say that I am an economist by profession since I have not been formally practicing it since I left America for my PhD (in Social Policy) in the UK 12 years ago. But I have always been intrigued by statistics and trends of various countries – particularly of the ones I have lived and worked in. The figures are annually look out for are the United Nation’s Human Development Indices (HDI). Their 2013 report already came out and the first few pages I turned to were the last ones on the country summaries of their HDIs.
Since 1990, the United Nations Human Development Programme (UNDP) has been computing the HDI in both developed and developing countries. The HDI is a composite statistic of life expectancy, education, and income measures that serves as an indication of improvements in the quality of life of the country’s citizens. The measurement of education is two-fold with the use of the adult literacy rate and gross enrollment ratio. This index is based on the assumption that human development is not just dependent on one’s salary or wages, but also on how long he lives, how literate he is, and how many years of education he has completed."
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