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A CANONICAL CORRELATION APPROACH IN DETERMINING GROWTH & DEVELOPMENT AND SOCIAL INCLUSION LINKAGES

Year 2018, Volume: 1 Issue: 3, 130 - 146, 17.12.2018

Abstract

              In 2017 Inclusive Growth and
Development Report published by World Economic Forum, Inclusive Growth and
Development Key Performance Indicators have been based upon three dimensions as
“Growth and Development (G&D)”, “Inclusion (INC)” and “Intergenerational
Equity and Sustainability”. In this study, interrelations between G&D and INC
dimensions have been tried to be revealed for totally 91 countries which take
place in 2017 Report by carrying out Canonical Correlation Analysis.
Standardized canonical coefficients have
shown that ‘GDP per Capita’ variable has provided the largest contribution to
G&D dimension and ‘Median Household Income’ variable has created the
largest effect on INC set when the first canonical correlation is taken into
consideration. Based on the communality coefficients, it can be said that
‘Employment’ variable may not represent a strong relationship with INC set. In
addition, ‘Net Income Gini’ and ‘Wealth Gini’ variables have been detected not
to be associated with G&D set.



 

References

  • Aghion, P., Howitt, P., & Murtin, F. (2010), The Relationship between Health and Growth: When Lucas Meets Nelson-Phelps (No. w15813). National Bureau of Economic Research.
  • Barro, R. J. (1996), Determinants of Economic Growth: A Cross-Country Empirical Study (No. w5698). National Bureau of Economic Research.
  • Bloom, D. E., Canning, D., and Sevilla, J. (2004), “The Effect of Health on Economic Growth: A Production Function Approach”, World Development, 32(1), 1-13.
  • Cankaya, S. (2005), Kanonik Korelasyon Analizi ve Hayvancılıkta Kullanımı, Yayımlanmamış Doktora Tezi, Çukurova Üniversitesi, Fen Bilimleri Enstitüsü, Adana.
  • Cankaya, S., Altop, A., Olfaz, M., and Erener, G. (2009), “Karayaka Toklularında Kesim Öncesi ve Kesim Sonrası Ölçülen Bazı Özellikler Arasındaki İlişkinin Tahmini İçin Kanonik Korelasyon Analizi. Anadolu Tarım Bilimleri Dergisi, 24(1), 61-66.
  • Dao, M. Q. (2014), “Drivers of Economic Growth in Developing Countries”, Studies in Economics and Econometrics, 38(1), 75-85.
  • Hotelling, H. (1936), “Relations between Two Sets of Variates”, Biometrika, 28(3/4), 321-377.
  • Keskin, S., Kor, A., and Başpinar, E. (2005), “Akkeçi Oğlaklarında Kesim Öncesi ve Kesim Sonrası Ölçülen Bazı Özellikler Arasındaki İlişki Yapısının Kanonik Korelasyon Analizi ile İrdelenmesi”, Tarım Bilimleri Dergisi, 11(2): 154-159.
  • Korkmaz, S., and Korkmaz, O. (2017), “The Relationship between Labor Productivity and Economic Growth in OECD Countries”, International Journal of Economics and Finance, 9(5), 71.
  • Kritikos, A. (2014), “Entrepreneurs and Their Impact on Jobs and Economic Growth”, IZA World of Labor, 1-8.
  • Lucas Jr, R. E. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22(1), 3-42.
  • Meyers, L. S., Gamst, G., and Guarino, A. J. (2013), “Applied Multivariate Research: Design and interpretation”, Sage publications.
  • Mondal, M. N. I., Ullah, M. M. M. N., Islam, M. R., Rahman, M. S., Khan, M. N., Ahmed, K. M., & Islam, M. S. (2015), “Sociodemographic and Health Determinants of Inequalities in Life Expectancy in Least Developed Countries”, International Journal, 3(2), 96-105.
  • Nelson, R. and E. Phelps (1966), “Investment in Humans, Technological Diffusion, and Economic Growth”, American Economic Review, vol. 61, 69-75.
  • Ngangue, N., and Manfred, K. (2015), “The Impact of Life Expectancy on Economic Growth in Developing Countries”, Asian Economic and Financial Review, 5(4), 653.
  • Romer, P. M. (1986), “Increasing Returns and Long-Run Growth”, Journal of Political Economy, 94(5), 1002-1037.
  • Sağlam, M. (2013), “Entisol ve İnceptisol Topraklarda Bazı Fiziksel ve Kimyasal Özellikler Arasındaki İlişkinin Kanonik Korelasyon Analizi ile Belirlenmesi”, SDÜ Ziraat Fakültesi Dergisi, 4(2), 66-79.
  • Salkind, N. J. (2007), Encyclopedia of Measurement and Statistics, Volume 1, SAGE Publications.
  • Sherry, A., and Henson, R. K. (2005), “Conducting and Interpreting Canonical Correlation Analysis in Personality Research: A User-Friendly Primer”, Journal of Personality Assessment, 84(1), 37-48.
  • Stewart, D., and Love, W. (1968), “A General Canonical Correlation Index”, Psychological Bulletin, 70(3, Pt.1), 160-163.
  • Swift, R. (2011), “The Relationship between Health and GDP in OECD Countries in the Very Long Run”, Health Economics, 20(3), 306-322.
  • Thompson, B. (1984), Canonical Correlation Analysis: Uses and Interpretation, Thousand Oaks, CA: Sage.
  • World Economic Forum (2017), The Inclusive Growth and Development Report 2017 - Insight Report, Geneva: World Economic Forum. Available at: http://www3.weforum.org/docs/WEF_Forum_IncGrwth_2017.pdf.

A CANONICAL CORRELATION APPROACH IN DETERMINING GROWTH & DEVELOPMENT AND SOCIAL INCLUSION LINKAGES

Year 2018, Volume: 1 Issue: 3, 130 - 146, 17.12.2018

Abstract

 In 2017 Inclusive Growth and Development Report published by World Economic Forum, Inclusive Growth and Development Key Performance Indicators have been based upon three dimensions as “Growth and Development (G&D)”, “Inclusion (INC)” and “Intergenerational Equity and Sustainability”. In this study, interrelations between G&D and INC dimensions have been tried to be revealed for totally 91 countries which take place in 2017 Report by carrying out Canonical Correlation Analysis. Standardized canonical coefficients have shown that ‘GDP per Capita’ variable has provided the largest contribution to G&D dimension and ‘Median Household Income’ variable has created the largest effect on INC set when the first canonical correlation is taken into consideration. Based on the communality coefficients, it can be said that ‘Employment’ variable may not represent a strong relationship with INC set. In addition, ‘Net Income Gini’ and ‘Wealth Gini’ variables have been detected not to be associated with G&D set.

References

  • Aghion, P., Howitt, P., & Murtin, F. (2010), The Relationship between Health and Growth: When Lucas Meets Nelson-Phelps (No. w15813). National Bureau of Economic Research.
  • Barro, R. J. (1996), Determinants of Economic Growth: A Cross-Country Empirical Study (No. w5698). National Bureau of Economic Research.
  • Bloom, D. E., Canning, D., and Sevilla, J. (2004), “The Effect of Health on Economic Growth: A Production Function Approach”, World Development, 32(1), 1-13.
  • Cankaya, S. (2005), Kanonik Korelasyon Analizi ve Hayvancılıkta Kullanımı, Yayımlanmamış Doktora Tezi, Çukurova Üniversitesi, Fen Bilimleri Enstitüsü, Adana.
  • Cankaya, S., Altop, A., Olfaz, M., and Erener, G. (2009), “Karayaka Toklularında Kesim Öncesi ve Kesim Sonrası Ölçülen Bazı Özellikler Arasındaki İlişkinin Tahmini İçin Kanonik Korelasyon Analizi. Anadolu Tarım Bilimleri Dergisi, 24(1), 61-66.
  • Dao, M. Q. (2014), “Drivers of Economic Growth in Developing Countries”, Studies in Economics and Econometrics, 38(1), 75-85.
  • Hotelling, H. (1936), “Relations between Two Sets of Variates”, Biometrika, 28(3/4), 321-377.
  • Keskin, S., Kor, A., and Başpinar, E. (2005), “Akkeçi Oğlaklarında Kesim Öncesi ve Kesim Sonrası Ölçülen Bazı Özellikler Arasındaki İlişki Yapısının Kanonik Korelasyon Analizi ile İrdelenmesi”, Tarım Bilimleri Dergisi, 11(2): 154-159.
  • Korkmaz, S., and Korkmaz, O. (2017), “The Relationship between Labor Productivity and Economic Growth in OECD Countries”, International Journal of Economics and Finance, 9(5), 71.
  • Kritikos, A. (2014), “Entrepreneurs and Their Impact on Jobs and Economic Growth”, IZA World of Labor, 1-8.
  • Lucas Jr, R. E. (1988), “On the Mechanics of Economic Development”, Journal of Monetary Economics, 22(1), 3-42.
  • Meyers, L. S., Gamst, G., and Guarino, A. J. (2013), “Applied Multivariate Research: Design and interpretation”, Sage publications.
  • Mondal, M. N. I., Ullah, M. M. M. N., Islam, M. R., Rahman, M. S., Khan, M. N., Ahmed, K. M., & Islam, M. S. (2015), “Sociodemographic and Health Determinants of Inequalities in Life Expectancy in Least Developed Countries”, International Journal, 3(2), 96-105.
  • Nelson, R. and E. Phelps (1966), “Investment in Humans, Technological Diffusion, and Economic Growth”, American Economic Review, vol. 61, 69-75.
  • Ngangue, N., and Manfred, K. (2015), “The Impact of Life Expectancy on Economic Growth in Developing Countries”, Asian Economic and Financial Review, 5(4), 653.
  • Romer, P. M. (1986), “Increasing Returns and Long-Run Growth”, Journal of Political Economy, 94(5), 1002-1037.
  • Sağlam, M. (2013), “Entisol ve İnceptisol Topraklarda Bazı Fiziksel ve Kimyasal Özellikler Arasındaki İlişkinin Kanonik Korelasyon Analizi ile Belirlenmesi”, SDÜ Ziraat Fakültesi Dergisi, 4(2), 66-79.
  • Salkind, N. J. (2007), Encyclopedia of Measurement and Statistics, Volume 1, SAGE Publications.
  • Sherry, A., and Henson, R. K. (2005), “Conducting and Interpreting Canonical Correlation Analysis in Personality Research: A User-Friendly Primer”, Journal of Personality Assessment, 84(1), 37-48.
  • Stewart, D., and Love, W. (1968), “A General Canonical Correlation Index”, Psychological Bulletin, 70(3, Pt.1), 160-163.
  • Swift, R. (2011), “The Relationship between Health and GDP in OECD Countries in the Very Long Run”, Health Economics, 20(3), 306-322.
  • Thompson, B. (1984), Canonical Correlation Analysis: Uses and Interpretation, Thousand Oaks, CA: Sage.
  • World Economic Forum (2017), The Inclusive Growth and Development Report 2017 - Insight Report, Geneva: World Economic Forum. Available at: http://www3.weforum.org/docs/WEF_Forum_IncGrwth_2017.pdf.
There are 23 citations in total.

Details

Primary Language English
Journal Section Research Article
Authors

Sera Şanlı 0000-0002-4827-1032

Publication Date December 17, 2018
Published in Issue Year 2018 Volume: 1 Issue: 3

Cite

APA Şanlı, S. (2018). A CANONICAL CORRELATION APPROACH IN DETERMINING GROWTH & DEVELOPMENT AND SOCIAL INCLUSION LINKAGES. Academic Review of Humanities and Social Sciences, 1(3), 130-146.

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