42 Globalization and Economic Development dependence on trade and export concentration, then neither their dependence on trade, nor their export concentration are likely to be important factors in development and growth, The results could also mean that attempts by small countries to diversify their exports and to reduce their degree of dependence on trade need not have any significant impact on their using three indicators viz. life expectancy at age one, infant mortality and literacy which was of the form of a simple composite index of development. For each indicator, the performance of individual countries was rated on a scale of 1 to 100, where 1 represented the “worst” performance by any country and the ‘best performance’. For life-expectancy, the upper limit of 1 100 has been assigned to 77 years (achieved by Sweden in 1973) and lower limit of 1 has been assigned on 28 years (the life expectancy in Guinea Bissau in 1950). Similarly, for infant mortality, the upper limit was set at 9 per 1000 (achieved by Sweden in 1973) and the lower limit at 229 per 1000 (Gabon, 1950), Literacy rates, being measured as percentages were in the range of | to 100 and provided their own direct scale. Once a country’s performance in life- expectancy, infant mortality, and literacy was rated on the scale of 1 to 100, the composite index (PQLI) for the country was calculated by averaging the three ratings, giving equal weights to each. Morris examined international patterns and made international comparisons among countries and concluded that there was no automatic link between per capita income and even the barest element ae hoa well-being. indicators—life expectancy, infant mortality and literacy— established that POLI was systematically related to GNP/C, especially when atypical countries were eliminated from the sample. They also suggested that, on a priori basis, the components used in the construction of the PQLI were even more ambiguous than GNP/C when used as a welfare measure. Finally, they argued that the arbitrary weighting and narrow selection of components included in the PQLI contributed to the construction of an indicator which was statistically unsound.es nen rite _ and Economic BPN) lutein ) : <— gods ib 4 +d add Manjit Singhett eeeeeseevos, Seeesseessessssesesaseeseeseosoee, GLOBALIZATION AND ECONOMIC DEVELOPMENT Experience of Developing Countries eeeeeesasenee DR. MANJIT SINGH M.Se,(Hons.), Ph.D. Lecturer of Economics Guru Nanak Dev University Amritsar (Punjab) Foreword by PROFESSOR P.S. RAIKHY Former Professor and Head Former Dean, Faculty of Economics and Business Punjab School of Economics Guru Nanak Dev University Amritsar (Punjab) This One 5 iin DEEP & DEEP PUBLICATIONS PVT. LTD. F-159, Rajouri Garden, New Delhi - 110 027