Classifications of countries based on their standard of living

In the body of the literature, it is celebrated that human well-being becomes the key subject in measuring the economic development. The purpose of this study is to classify the countries with respect to their standard of living on the basis of economic growth, health, education and quality of envir...

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Bibliographic Details
Published inPakistan journal of commerce and social sciences Vol. 8; no. 1; pp. 74 - 98
Main Authors Ahmad, Zahoor, Nisar, Lubaina
Format Journal Article
LanguageEnglish
Published Lahore Johar Education Society, Pakistan (JESPK) 2014
Subjects
cluster analysis
economic growth
education
health
living standard
quality of environment
self organizing feature maps (SOFM)
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Summary:In the body of the literature, it is celebrated that human well-being becomes the key subject in measuring the economic development. The purpose of this study is to classify the countries with respect to their standard of living on the basis of economic growth, health, education and quality of environment by using cluster analysis and self-organizing feature map. The data have been obtained from the World Bank Report 2011, United Nation Development Program and the United Nation Statistics Division. The results of this study reveal that health and quality of environment indicators playing most important role for classification of the countries.
ISSN:2309-8619
2309-8619