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Cited by 14Economic Growth and DevelopmentEconomic Growth and Fiscal PoliciesCorruption and Economic Development

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Inclusive Human Development and Governance Nexus: Causality Analysis of Selected Asian Countries

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Stylianou, Tasos, Nasir, Rakia, Waqas, Muhammad·2023·Economies
DOI 10.3390/economies11030097
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Abstract

This study investigates the role of governance in inclusive human development in the case of twenty-four selected Asian countries, using panel data for the time period from 2010 to 2017. The inequality-adjusted human development index, developed by the United Nation Development Program, has been used as a proxy for inclusive human development. In addition, six indicators of governance have been used as independent variables in a regression model, along with three control variables. We have tested the stationarity of our data using panel unit root tests such as Leviv-Lin-Chu and Augmented Dickey Fuller. The Pearson correlation matrix helps us find out the correlation among variables. The findings show a mixed level of correlation among the variables (i.e., high, low, and moderate). Furthermore, our results show that a strong causal relationship among the variables exists. One of the most important findings is that there is bi-directional causality between the inclusive human development index (IHDI) and development expenditure. The IHDI causes more government investment in development projects, whereas more development expenditure in the country achieves a higher IHDI. Trade openness and development expenditure have a bi-directional causal relationship. Finally, economic governance causes political governance in the case of our selected Asian countries.

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Metadata

Authors
Stylianou, T., Nasir, R., & Waqas, M.
Affiliations
  • International Hellenic University (GR)
  • University of Management and Technology (PK)
  • University of Sargodha (PK)
Corresponding author
Nasir, Rakia
ORCID
Venue
Economies
Publisher
MDPI AG
Published
2023-03-19
Volume
11
Issue
3
Pages
97
ISSN
2227-7099 (ISSN-L)
DOI
10.3390/economies11030097
OpenAlex
W4327947369
Cited by
14
References
0
Citations by year
2026: 5 · 2025: 6 · 2024: 3
FWCI
3.29
Type
journal article
Language
en
Open access
Licence
Locations
  • Economies (publishedVersion, cc-by)
  • RePEc: Research Papers in Economics (submittedVersion)
  • DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
  • Econstor (Econstor) (submittedVersion, cc-by)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Development
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Fiscal Policies
  • Social Sciences › Sociology and Political Science › Corruption and Economic Development
Keywords
inclusive human development, governance, inequality-adjusted human development index, development costs, trade openness, economic governance, political governance, causality, Asian countries

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