Lecture2 - Comparative Economic Development Development...

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Comparative Economic Development Development Economics Lecture Notes 2 Alper Duman March 5, 2009 Alper Duman Development Economics Lecture Notes 2
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Comparative Economic Development I The glass is half-full I Turkey is an upper-middle income country with almost 50 million mobe phone subscibers I The Turkish economy ranks as 66th in terms of GDP per capita (PPP) but ranks as 84th in Human Development Index I . . Alper Duman Development Economics Lecture Notes 2
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Comparative Economic Development Growth Table: Long term trends 1923-50 1950-80 1980-2005 1923-2005 Population 1.8 2.6 1.9 2.1 GDP per capita 3.1 3.1 2.5 2.9 Total Agr. output 4.5 2.9 1.2 2.9 Total Ind. output 5.8 7.7 5.8 6.5 Alper Duman Development Economics Lecture Notes 2
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Comparative Economic Development I Consider the world as a single country, the income distribution will be only better than Namibia. Cross-country income differentials are as great as within country. I Average income per person reaches over 40 thousand dollars in US and barely reaches 700 dollars in Burundi. I Why do we have such a disparity? Why are the rich nations rich and the poor nations are poor? Alper Duman Development Economics Lecture Notes 2
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Comparative Economic Development I World Bank considers all the countries with a GDP per capita less than 10 thousand dollars as non-developed. Then it classifies these countries as LOW-Income (0-875 dollars), LOWER MIDDLE-Income (876-3465 dollars) and UPPER MIDDLE-Income (3466 - 10 thousand 725 dollars). I Generally there are two measures to indicate the average income of a country. Gross National Income and Gross National Product. The important distinction is to use Purchasing Power Parity (PPP) in each measure since the price of a good or a service may not be same internationally.
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This note was uploaded on 08/06/2009 for the course ECONOMICS ECON426 taught by Professor Alperduman during the Spring '09 term at Izmir University of Economics.

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Lecture2 - Comparative Economic Development Development...

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