A cross-sectional analysis of factors affecting human development index
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Keywords:Human Development, Democracy, Economic Growth, Quantile Regression
Although human development has made significant progress in recent years, especially in developing countries, there are differences in human development between countries. To determine the development level of a country, it is necessary to evaluate the social, cultural, demographic and political factors along with the economic factors. The Human Development Index, which covers three basic components in terms of socio-economic order, such as income, education and health, gains a different dimension in the name of welfare in all of these areas. Therefore, this study aims to determine factors affecting human development which is essential in terms of development goals. A cross-sectional analysis on a global scale is presented to investigate the impact of democracy, economic development, IMF loan use, infant mortality, and urbanization on human development. Quantile regression was estimated for 128 countries using 2019 data. The estimation results show that per capita income, democracy, urbanization, and IMF loan use have positive effects on human development. In contrast, infant mortality reduces human development. Afterward, we discussed the findings obtained from the analysis.
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