![]() In 2023, 40 countries fit all four criteria, while an additional 15 countries fit three out of four.ĭeveloped countries have generally more advanced post-industrial economies, meaning the service sector provides more wealth than the industrial sector. Another commonly used measure of a developed country is the threshold of GDP (PPP) per capita of at least USD$22,000. Different definitions of developed countries are provided by the International Monetary Fund and the World Bank moreover, HDI ranking is used to reflect the composite index of life expectancy, education, and income per capita. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. Most commonly, the criteria for evaluating the degree of economic development are the gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. ![]() ![]() The map does not include classifications by the World Bank.Ī developed country, or high-income country, is a sovereign state that has a high quality of life, developed economy, and advanced technological infrastructure relative to other less industrialized nations. "Developed economies" according to this classification scheme are shown in blue. Similarly, the CIA World Factbook follows the World Bank classification system, in which Turkey is classified as an upper- middle income country, which corresponds to a developing economy, rather than a high-income country, which would classify as developed.World map showing country classifications per the IMF and the UN (last updated April 2023). However, organizations including Dow Jones and the Financial Times Stock Exchange Group (FTSE) classify Turkey as an emerging market rather than a developed market. For example, the United Nations classifies Turkey as a developed country thanks to its 2021 HDI of 0.838 (Turkey is also a member of the G20, a group composed of countries with the largest economies in the world). The term "developed country" is often used to describe countries with developed economies or developed markets, which can lead to scenarios in which a given country is considered developed in one sense by one institution, but not in another sense by another institution. Why some sources differ on what constitutes a "developed country" HDI can be used to determine the best countries to live in, as more developed countries typically offer their residents a higher quality of life. Countries whose HDI score falls below that are classified as developing, least-developed, or (informally) underdeveloped. Countries which score between 1.000 and 0.800 are classified as developed. The HDI ranges from 0.000 (lowest development) to 1.000 (highest development). These points are then collated into a single score, the annual Human Development Index (HDI). The United Nations Development Programme measures human development in the world's countries by tracking dozens of data points across a vast range of sectors, ranging from GDP per capita to literacy rate, life expectancy, political stability, and access to electricity. The term "developed country" is often used to describe a sovereign state that possesses a mature economy and a technologically advanced infrastructure-however, this description fails to convey the full breadth and depth of the term. ![]()
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