Indexing
All Issues
Submission
Author Guidelines
Reviewers
Editorial Members
Publication Fee
Vol.2 , No. 1, Publication Date: Feb. 3, 2016, Page: 6-11
| [1] | Gordon Bechtel, Warrington College of Business, University of Florida, Gainesville, Florida, USA. |
Despite the plethora of socio-economic indexes, there has been little quality assurance of the unidimensionality of their component indicators. The present paper invokes reliability coefficient alpha, a standard of psychological testing, to develop unidimensional indexes of globalization and well-being. Under three axioms, populated-weighted alpha coefficients are computed from unobservable scores of 4.255 billion people in the G20 nations. These coefficients quality assure a regression of well-being on globalization over the same G20 population. The slope of this latent regression is computed from a population-weighted regression over our unidimensional indexes. This computation shows, without survey sampling or questionnaire interrogation, that decent globalization accounts for 86% of worldwide well-being.
Keywords
National Indicators, Individual Scoring Without Individual Data, Population-Weighted Alpha, Slope and Determination Coefficients, Quality Assured Indexes and Regression, Survey Sampling and Questionnaire Interrogation
Reference
| [01] | G. G. Bechtel, “Does globalization mitigate income inequality?” Journal of Data Science, vol. 12, pp. 197-215, 2014a. |
| [02] | N. Chomsky, Hopes and Prospects, Haymarket Books, Chicago, IL, USA, 2010. |
| [03] | Y. Varoufakis, The Global Minotaur: America, the True Origins of the Financial Crisis and the Future of the World Economy, Zed Books, London, UK, 2011. |
| [04] | G. Greenwald, “The U. S. government’s secret plan to spy for American corporations,” September 5, 2014a, https://firstlook.org/theintercept |
| [05] | G. Greenwald and E. MacAskill, “Obama orders US to draw up overseas target list for cyber-attacks,” June 7, 2013, http://www.guardian.co.uk |
| [06] | G. Greenwald, No Place to Hide: Edward Snowden, the NSA, and the U. S. Surveillance State, Metropolitan Books, New York, NY, USA, 2014b. |
| [07] | P. Samimi, G. C. Lim, and A. Aziz buang, “A critical review of synthetic globalization indexes,” International Journal of Fundamental Psychology and Social Sciences, vol. 2, pp. 28-31, 2012. |
| [08] | H. Aly, “Economics prof provides insights on Arab Spring,” 2011, http://osumarion.osu.edu/news/economics |
| [09] | S. Levy and L. Guttman, “On the multivariate structure of wellbeing,” Social Indicators Research, vol. 2, pp. 361-388, 1975. |
| [10] | F. M. Andrews and S. B. Withey, “Developing measures of perceived life quality: Results from several national surveys,” Social Indicators Research, vol. 1, pp. 1-26, 1974. |
| [11] | F. M. Andrews and S. B. Withey, Social Indicators of Well-Being: American‘s Perceptions of Life Quality, Plenum Press, New York, NY, USA, 1976. |
| [12] | H. Shapiro, “The Index of Consumer Sentiment and economic forecasting: A reappraisal,” In Human Behavior in Economic Affairs, B. Strumpel, J. N. Morgan and E. Zahn, Eds., Jossey-Bass, San Francisco, CA, USA, 1972. |
| [13] | N. M. Didow, W. D Perreault, and N. C. Williamson, “A cross-sectional optimal scaling analysis of the index of consumer sentiment,” Journal of Consumer Research, vol. 10, pp. 339-347, 1983. |
| [14] | P. V. Vanden Abeele, “The index of consumer sentiment: Predictability and predictive power in the EEC,” Journal of Economic Psychology, vol. 3, pp. 1-17, 1983. |
| [15] | J. Bram and S. Ludvigson, “Does consumer confidence forecast house-hold expenditure? A sentiment index horse race,” Economic Policy Review, Federal Reserve Bank of New York, NY, USA, pp. 59-78, 1998. |
| [16] | L. Lyberg, P. Biemer, M. Collins, E. de Leeuw, C. Dippo, N. Schwarz, and D. Trewin, Eds., Survey Measurement and Process Quality, Wiley and Sons, New York, NY, USA, 1997. |
| [17] | L. J. Cronbach, “Coefficient alpha and the internal structure of tests,” Psychometrika, vol. 16, pp. 297-334, 1951. |
| [18] | J. C. Nunnally and I. H. Bernstein, Psychometric Theory, 3rd edition, McGraw-Hill, New York, NY, USA, 1994. |
| [19] | Stata Corp, Stata Statistical Software, release 12, StataCorp LP, College Station, TX, USA, 2011. |
| [20] | G. G. Bechtel, “Public opinion about income inequality,” Electronic Journal of Applied Statistical Analysis, vol. 6, pp. 238-259, 2013. |
| [21] | G. G. Bechtel, “Data syntactic regression of ill-being,” Journal of Data Science, vol. 12, pp. 613-632, 2014b. |
| [22] | C. R. Rao, Linear Statistical Inference and its Applications, Wiley and Sons, New York, NY, USA, 1965. |
| [23] | J. S. Nye and J. D. Donahue, Eds., Governance in a Globalizing World, Brookings Institution Press, Washington, DC, USA, 2000. |
| [24] | A. Dreher, “Does globalization affect growth? Evidence from a new index of globalization,” Applied Economics, vol.38, pp.1091-1110, 2006. |
| [25] | A. Dreher, N. Gaston, and P. Martens, Measuring Globalisation – Gauging its Consequences, Springer, New York, NY, USA, 2008. |
| [26] | Swiss Federal Institute of Technology, KOF Index of Globalization: Method of Calculation, Zurich, Switzerland, 2015, globalization.kof.ethz.ch |
| [27] | D.W. O’Neill, R. Dietz, and N. Jones, Eds., Enough is Enough: Ideas for a Sustainable Economy in a World of Finite Resources, The report of the Steady State Economy Conference, Center for the Advancement of the Steady State Economy and Economic Justice for All, Leeds, UK, 2010. |
| [28] | R. Costanza, G. Alperovitz, H. Daley, J. Farley, C. Franco, T. Jackson, I. Kubiszewski, J. Schor, and P. Victor, Building a Sustainable and Desirable Economy-in-Society-in-Nature, United Nations Division for Sustainable Development, New York, NY, USA, 2012. |
| [29] | The Progressive Economy Initiative, Sustainable growth: The challenge of transition Annual Forum, Journal for a Progressive Economy, July 2015, www.progressiveeconomy.eu |
| [30] | D. van Dyk, M. Fuentes, M. Jordan, M. Newton, B. Ray, D. Lang, and H. Wickham, “ASA statement on the role of statistics in data science,” Amstat News, p. 9, October 2015. |
| [31] | M. Davidian, “Aren’t we data science?” Amstat News, pp. 3-5, July 2013. |
| [32] | Y. Varoufakis, “All the good stuff that cannot be measured,” February 7, 2015, https://www.youtube.com |
| [33] | A. Chaudhuri and H. Stenger, Survey Sampling: Theory and Methods, 2nd edition, CRC Press, Boca Raton, FL, USA, 2005. |
| [34] | K. Brewer and T. G. Gregoire, “Introduction to survey sampling,” in Handbook of Statistics (Sample Surveys: Design, Methods and Applications), Volume 29A, D. Pfeffermann and C. R. Rao, Eds., Elsevier, Amsterdam, NL, 2009. |
| [35] | J. D. Opsomer, “Introduction to part 4: Alternative approaches to inference from survey data,” in Handbook of Statistics (Sample Surveys: Inference and Analysis), Volume 29B, D. Pfeffermann and C. R. Rao, Eds., Elsevier, Amsterdam, NL, 2009. |
| [36] | J. Bound, C. Brown, and N. Mathiowetz, “Measurement error in survey data,” in Handbook of Econometrics, Volume 5, J. J. Heckman and E. Leamer, Eds., Elsevier Science, Amsterdam, NL, 2001. |
| [37] | M. E. Thompson, Theory of Sample Surveys, Chapman and Hall, London, UK, 1997. |
| [38] | S. L. Lohr, Sampling: Design and Analysis, 2nd edition, Brooks/Cole, Boston, MA, USA, 2010. |
| [39] | J. Brick and J. M. Montaquila, “Nonresponse and weighting,” in Handbook of Statistics (Sample Surveys: Design, Methods and Applications), Volume 29A, D. Pfeffermann and C. R. Rao, Eds., Elsevier, Amsterdam, NL, 2009. |
| [40] | R. J. A. Little and D. B. Rubin, Statistical Analysis with Missing Data, Wiley and Sons, New York, NY, USA, 2002. |
| [41] | A. Demnati and J. N. K. Rao, “Linearization variance estimators for survey data,” Survey Methodology, vol. 30, pp. 17–26, 2004. |
| [42] | Z. Prášková and P. K. Sen, “Asymptotics in finite population sampling,” in Handbook of Statistics (Sample Surveys: Inference and Analysis), Volume 29B, D. Pfeffermann and C. R. Rao, Eds., Elsevier, Amsterdam, NL, 2009. |
| [43] | K. A. Frankovic, C. Panagopoulos, and R. Y. Shapiro, “Opinion and election polls,” in Handbook of Statistics (Sample Surveys: Design, Methods and Applications), Volume 29A, D. Pfeffermann and C. R. Rao, Eds., Elsevier, Amsterdam, NL, 2009. |
| [44] | M. W. Horrigan, “Big Data: A perspective from the BLS,” Amstat News, pp. 25-27, January 2013. |
| [45] | L. Li, “Statistics training: A big role in Big Data?” Amstat News, pp. 32-33, May 2014. |
| [46] | R. Jarmin, J. Lane, A. Marco, and I. Foster, “Using the classroom to bring Big Data to statistical agencies,” Amstat News, pp. 12-13, November 2014. |
| [47] | M. van der Laan, “Statistics as a science, not an art: The way to survive in data science,” Amstat News, pp. 29-30, February 2015. |
| [48] | M. Vogelius, N. Kannan, and X. Huo, “NSF Big Data funding opportunity for the statistics community,” Amstat News, p. 6, April 2015. |
