From "Growth Priority" to "Comprehensive Development": A Logical Test of the Complementarity between GDP and HDI
An Empirical Study Based on Cross-Country Panel Data and Typical Patterns
DOI:
https://doi.org/10.6918/IJOSSER.202606_9(6).0016Keywords:
GDP; Human Development Index (HDI); Complementarity; Transformation Efficiency; Development Mode.Abstract
The disconnect between global economic growth and human development has become more and more obvious, which shows that using only GDP as a measurement has big limitations. This study uses panel data from China, Costa Rica, and Equatorial Guinea during 2000–2023, trying to empirically test how GDP and HDI can complement each other. The results reveal an intrinsic complementarity and a long-term equilibrium relationship between the two. The conventional elasticity coefficient is subject to computational artifacts due to the influence of the base value. The institutional environment and stage of development respectively determine the efficiency of transformation and the causal direction between GDP and HDI. This paper identifies three typical development models and proposes policy recommendations from three perspectives—the evaluation system, differentiated strategies, and international cooperation—so as to provide references for comprehensive development across countries.
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