Determinants of Economic Development Level - Structure and Its Stability
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Determinants of economic development in different countries are analyzed in the paper. According to the literature, the analyses of variables and factors underlying the different pace of economic growth in different countries reveal the complexity of processes driving different countries towards higher level of economic development. In the article the degree of dependencies between the level of economic development and various attributes including macroeconomic factors and human capital is measured in the years 1965 - 2003. Comparative analysis of World Development Indicators database published yearly by the World Bank is conducted on values of 695 attributes in 208 countries. The occurrence of missing data, motivated to use a set of tools for data exploration WEKA (Waikato Environment for Knowledge Analysis). Thus in addition, the problem of the applicability of data exploration tools for analyzing real data arising from economic processes was investigated.
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