Composite and Multidimensional Index of Regional Development: A proposal for Latin America

Abstract

The deep inequalities in Latin America require a territorial emphasis on diagnosis and policy recommendations in order to promote human and sustainable development. To contribute to this objective, a composite and multidimensional regional development index appropriate to the particular Latin American context is proposed. The index confirms: 1) the existence of large territorial development gaps; 2) a general situation of medium to low regional development; 3) a heterogeneity in the distribution between regions of the factors that favor or delay development. The index shows potential as a tool to identify specific challenges in each region and, within the framework of a multi-stakeholder and multi-level dialogue, contribute to generating impactful territorial development agendas.