We construct comprehensive and comparable indices on the most relevant components of economic infrastructure. An unobserved components model is employed to cover the largest possible number of developing and developed countries over the period 1990-2010. We map major findings from the new...

Chapter 1: Introduction -- Chapter 2: Towards an Inequality-Sensitive Measure of Development: The Unidimensional Case -- Chapter 3: Unidimensional Development Ranking and Fuzzy Lorenz Dominance -- Chapter 4: Illustrative Applications of Unidimensional Development Indices -- Chapter 5:...

This book discusses how to measure the level of development of an economy, particularly, the task of ranking economies in terms of their development. In this context, development is defined as an increase in people's level of wellbeing. The book emphasises that wellbeing is a multidimensional...