Modeling the correlation of social progress and the level of economic development

The social progress index is the measurement of social development and progress, therefore, its definition and components are considered in the article. The main advantage of using this index is to compare social progress with the level of economic development of a country. This index is interesting because it includes both indicators of wellfare and indicators of safety. It is convenient to consider these indicators in conjunction, to determine the benchmarks of socio-economic development. The paper studies the dependence of the Social Progress Index on GDP per capita in a sample of 139 countries. As the initial data for the analysis, we used the ranking of countries by the level of the social progress index and the World Bank database. The calculations were carried out using the STATA13 package and MS Excel tools. Paired logarithmic regression was chosen at the specification stage. It was found that in the studied situation, 83.1% of the total variability of the social progress index is explained by the change in GDP per capita. The obtained estimates of the regression equations make it possible to use them to predict the indicators of the socio-economic development of Russian regions.