Connecting GDP Per Capita and Average Life Expectancy

Abstract

Economic growth is a single dimensional concept, one of the most used measures for which is GDP per capita. On the other hand, economic development is a multi-dimensional concept with average life expectancy as the most popular measure. As per economists, economic growth might lead to economic development but not always. This paper sets out to find the exact level of correlation by using the two variables- average life expectancy and GDP per capita. This is done through the analyzation for the data over 5 years of 20 countries out of which 10 are LEDCs and 10 are MEDCs, situated globally. Simple methods such as mean, and standard deviation as well as complex methods including box-and-whisker graphs and Pearson’s product-moment correlation are used. This paper accordingly tests various hypotheses and uses the analyzed data to be able to prove if they are correct or not. Suggestions of future methods to improve the conduction of a study as such on a wider scale are also expressed.