Research and application of optimizing economic measurement with night light data

Abstract

The essay delves into the strengths and weaknesses of key economic indicators, arguing that a combination of GDP, Human Development Index (HDI), and satellite-based nightlight observations offers the most comprehensive perspective. Nightlight observations in regions like Asia and Ukraine positively correlate with GDP, indicating timely economic dynamics and changes. Using night luminosity images as a proxy for GDP growth quantity and HDI as a proxy for GDP growth quality can enhance our understanding of economic measurement, providing a broader and more nuanced picture of a nation’s economic health and vitality.