Exploring Economic and Social Sustainable Indicator in Relation to Performance at Global Region Level

Asha Sharma¹

1. Department of Accountancy and Statistics, University College of Commerce & Management Studies, Mohanlal Sukhadia University, Udaipur.

Section:Research Paper, Product Type: Journal-Paper
Vol.6 , Issue.3 , pp.6-13, Mar-2020

Online published on Mar 30, 2020

Copyright © Asha Sharma . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
The performance of the economy of a country is an indicator of its development and growth at all the parameter whether it is social or economic and viva-versa. It shows that both the element have interdependency on each other. Development of social and economic parameter enhance the country’s performance and performance of the country will be improved by focusing its socio-eco development. High performing countries are influenced by various factors. The aim of the paper is to measure the impact of social and economic development on the performance of global regions. For this purpose, global countries are segregated region wise into six clusters such as Arab States, East Asia and Pacific, Europe & center Asia, Latin America & the Caribbean, South Asia, Sub-Saharan Africa. The variable such as Health, Pupil-Teacher Ratio, Living Standard, Human Development Index, Life Expectancy are taken as an indicator of social development and Employment, Gender Index Development, Net Savings, Skilled Labour, Research are considered the economic development.Social and economic development both of the variables are applied as the independent variable and gross capital formation is considered as the dependent variable and the indicator of the performance of a region. The impact of social and economic development is found out in the performance of a region. ANOVA and artificial neural network statistical techniques are used to measure the result. It is also tried to find out whether the performance of a global region is affected by several developed countries. With ANOVA results it can be said that economic variables are more important than social factors in measuring the performance of a region. For result verification purposes and finding model fitness, an artificial neural network technique is used. The same type of result is found by applying ANN. It is found that economies, growth, and performance of all the regions are highly correlated and affecting each other positively.

Key-Words / Index Term :
Economic Development, Social Development, Gross Capital Formation, Country Performance, Artificial Neural Network

References :
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