Global Development Index as Indicator of Global Governance: Integrated Assessment of OECD Member Countries Development

Abstract

This paper substantiates both the overall theme and the specific details of applying the system for assessment of global social development, based on the Global Governance concept. It emphasizes the need to form a system of global development indicators and to develop an indicator that could characterize global development in terms of its current condition, dynamics, and its capacity to exert a regulating impact on the global development of different countries of the world. This could then be used for determining the strategic guidelines of nation states’ development. An original approach has been proposed to measure a balanced development on the basis of an aggregate index – an integrated global development index which was named ‘Global Index GI-10’. The possibilities of using GI-10 as a global development indicator, taking the OECD countries as an example, are discussed on the premise of a correlation between socio-political, socio-humanitarian, and economic and technological components, in order to achieve the relevant coordinated global objectives on a common-value basis. The results of a complex integrated assessment of the OECD countries’ development testify to a high overall development index within this organization, which indicates the efficiency of the regulating impact of OECD on the world integration processes. The Global Index GI-10 can be used both as an integrated developmental index of an individual country, and a Global Governancе performance indicator at the level of inter-state associations under transformational conditions.