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Alternative Composite Lisbon Development Strategy Indices: A Comparison of EU, USA, Japan and Korea

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  • Almas Heshmati
  • JongEun Oh

Abstract

This study addresses the measurement of two composite Lisbon strategy indices that quantifies the level and patterns of development for ranking countries. The first index is nonparametric labelled as Lisbon strategy index (LSI). It is composed of six components: general economics, employment, innovation research, economic reform, social cohesion and environment, each generated from a number of Lisbon indicators. LSI by reducing the complexity of the set of indicators, it makes the ranking procedures quite simple. The second and parametric index is based on principal component analysis. Despite the difference in the ranking by the two indices, it is shown that the United States outperformed most EU-member states. Our investigations also show evidence of significant dynamic changes taking place, as the countries of the Union struggle to achieve the Lisbon goals. The necessity of a real reform agenda in several old and new members and candidate countries emerges from our analysis. We briefly refer to two important European phenomena emerging from our data analysis and discuss the possible lessons learned from the Korean development strategy

Suggested Citation

  • Almas Heshmati & JongEun Oh, 2006. "Alternative Composite Lisbon Development Strategy Indices: A Comparison of EU, USA, Japan and Korea," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 3(2), pages 131-170, December.
    • Handle: RePEc:liu:liucej:v:3:y:2006:i:2:p:131-170
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    1. Kyungbo Park & Hangook Kim & Jeonghwa Cha, 2023. "An Exploratory Study on the Development of a Crisis Index: Focusing on South Korea’s Petroleum Industry," Energies, MDPI, vol. 16(14), pages 1-24, July.
    2. Peter Herrmann & Almas Heshmati & Arno Tausch & Chemen S.J. Bajalan, 2009. "Efficiency and Effectiveness of Social Spending," Wirtschaft und Gesellschaft - WuG, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik, vol. 35(1), pages 13-43.
    3. Baseem Al-Athwari & Jorn Altmann & Almas Heshmati, 2013. "A Conceptual Model and Methodology for Evaluating E-Infrastructure Deployment and Its Application to OECD and MENA Countries," TEMEP Discussion Papers 2013102, Seoul National University; Technology Management, Economics, and Policy Program (TEMEP), revised Apr 2013.
    4. Tausch, Arno & Heshmati, Almas, 2014. "Testing an EU-Candidate's Place on the Maps of Global Economic, Political and Social Values: The Case of Turkey," IZA Discussion Papers 8163, Institute of Labor Economics (IZA).
    5. Almas Heshmati & Biwei Su & Seon-Ae Kim, 2015. "Measurement and Analysis of Well-Being in Developed Regions in China," China Economic Policy Review (CEPR), World Scientific Publishing Co. Pte. Ltd., vol. 4(01), pages 1-22, June.
    6. Tausch, Arno, 2009. "Schaufenster Griechenland – was kann aus dem aktuellen Debakel für das soziale Europa gelernt werden? [Showcase Greece – what can be learnt from the current debacle for a Social Europe?]]," MPRA Paper 14251, University Library of Munich, Germany.
    7. Tausch, Arno, 2011. "Globalization as a driver or bottleneck for sustainable development. General tendencies and European implications," MPRA Paper 33227, University Library of Munich, Germany.
    8. Leonardo C. Rossato & José Roberto Iglesias & Sebastian Gonçalves, 2024. "Analysis of socioeconomic indicators in the United States, Brazil, and other Latin American countries using econophysics techniques," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 97(9), pages 1-10, September.
    9. Tausch, Arno, 2008. "On the world market trajectory of 21 major book publishing companies in globalization and European studies in 100+ countries. From “Amsterdam University Press” via “Palgrave” and “Nova Science Publish," MPRA Paper 9613, University Library of Munich, Germany.
    10. Heshmati, Almas, 2007. "A Model for Industrial Development of the Federal Region of Kurdistan: Science and Technology Policy, Instruments and Institutions," IZA Discussion Papers 3213, Institute of Labor Economics (IZA).
    11. Tausch, Arno & Heshmati, Almas, 2009. "Asabiyya: Re-Interpreting Value Change in Globalized Societies," IZA Discussion Papers 4459, Institute of Labor Economics (IZA).
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    More about this item

    Keywords

    Economic development; composite index; Lisbon Agenda;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • F15 - International Economics - - Trade - - - Economic Integration
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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