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14-September-2008 11:27:26 - Developed country Redirected from Developed world All developed countries maintain mixed market economies, of which stock exchanges, such as the NYSE, are symbolic. All developed countries maintain mixed market economies, of which stock exchanges, such as the NYSE, are symbolic. The term developed country, or advanced country, is used to categorize countries with developed economies in which the tertiary and quaternary sectors of industry dominate. Countries not fitting this definition may be referred to as developing countries. This level of economic development usually translates into a high income per capita and a high Human Development Index HDI. Countries with high gross domestic product GDP per capita often fit the above description of a developed economy. However, anomalies exist when determining developed status by the factor GDP per capita alone. Contents 1 Synonyms 2 Definition 3 Welfare states 4 High income countries 5 Human Development Index 6 Lists of prosperous economies 6.1 CIA developed country list 6.2 CIA advanced economy list 6.3 IMF advanced economy list 6.4 FTSE Global Equity Index 6.5 Quality-of-life survey 7 See also 8 References 9 External links Synonyms Modern terms synonymous with the term developed country or advanced country include industrialized country, more developed country MDC, more economically developed country MEDC, Global North country and post-industrial country. The term industrialized country may be somewhat ambiguous, as industrialization is an ongoing process that is hard to define. The term MEDC is one used by modern geographers to specifically describe the status of the countries referred to: more economically developed. The first industrialised country was England, followed by Germany, France, the remainder of the United Kingdom and other Western European countries. According to economists such as Jeffrey Sachs, however, the current divide between the developed and developing world is largely a phenomenon of the 20th century.1 Definition In common practice, Canada and the United States in North America, Japan and South Korea in Asia, Australia and New Zealand in Oceania, and most countries in Northern Europe and Western Europe are considered developed countries. Increasingly, the term developed countries is also used to refer to Cyprus, Hong Kong, Israel, Singapore, Slovenia and Taiwan Republic of China. Although Hong Kong is a Special Administrative Region of the People's Republic of China which is a developing country, it is still considered internationally as a separate economic entity as it has its own currency and customs controls. The political status of Taiwan Republic of China is controversial; however it is largely seen as a distinct economic region. Welfare states Currently modern, expansive welfare states are still the exclusive domain and hallmark of the developed nations,2 commonly constituting at least 20% of GDP, with the largest Scandinavian welfare states constituting over 40% of GDP.3 Prominent sociologist Gosta Esping-Andersen states that the developed nations have developed a new kind of capitalism exclusive to them, which he dubbs welfare capitalism. This type of capitalism seeks to ensure economic security, independence, stablity and opportunity by creating expansive public sectors that fuse public policy and market forces. According to Esping-Andersen, welfare state policies and economic forces are completely interwoven in these nations, with public policy shaping such basic market attributes as consumer demand, capital stock build-up, labor pariticipation rates, worker productivity and the extent and ramifications of the business cycle.2 These modern welfare states, which largely arose in the late 19th and early 20th centuries, seeing their greatest expansion in the mid 20th century, have proven themselves highly effective in reducing relative as well as absolute poverty in all high-income OECD countries.456 Country Absolute poverty rate threshold set at 40% of U.S. median household income4 Relative poverty rate5 Pre-transfer Post-transfer Pre-transfer Post-transfer Sweden 23.7 5.8 14.8 4.8 Norway 9.2 1.7 12.4 4.0 Netherlands 22.1 7.3 18.5 11.5 Finland 11.9 3.7 12.4 3.1 Denmark 26.4 5.9 17.4 4.8 Germany 15.2 4.3 9.7 5.1 Switzerland 12.5 3.8 10.9 9.1 Canada 22.5 6.5 17.1 11.9 France 36.1 9.8 21.8 6.1 Belgium 26.8 6.0 19.5 4.1 Australia 23.3 11.9 16.2 9.2 United Kingdom 16.8 8.7 16.4 8.2 United States 21.0 11.7 17.2 15.1 Italy 30.7 14.3 19.7 9.1 High income countries Main article: High income country High income Upper-middle income Lower-middle income Low income High income Upper-middle income Lower-middle income Low income High income countries are defined by the World Bank as countries with a Gross National Income per capita of $11,115 or more.7 According to the United Nations definition some high income countries may also be developing countries. Thus, a high income country may be classified as either developed or developing.8 When using GDP/cap as an indicator of developed status, one must take into account how some countries have achieved a usually temporarily high GDP/cap through natural resource exploitation e.g., Nauru through phosphate extraction and Equatorial Guinea without developing the diverse industrial and service-based economy necessary for developed status - similarly, the Bahamas, Barbados, Antigua and Barbuda, and Saint Kitts and Nevis depend overwhelmingly on the tourist industry.citation needed Despite their high per capita GDP, the GCC countries in the Middle East are generally not considered developed countries because their economies depend overwhelmingly on oil production and export; in many cases notably Saudi Arabia, per capita GDP is also skewed by an unequal distribution of wealth. Human Development Index World map showing the Human Development Index as presented by the United Nations in 2007. World map showing the Human Development Index as presented by the United Nations in 2007. Main article: Human Development Index Main article: List of countries by Human Development Index The UN HDI is a statistical measure that gauges a country's level of human development. While there is a strong correlation between having a high HDI score and a prosperous economy, the UN points out that the HDI accounts for more than income or productivity. Unlike GDP per capita or per capita income, the HDI takes into account how income is turned into education and health opportunities and therefore into higher levels of human development. A few examples are Italy and the United States. Despite a relatively large difference in GDP per capita, both countries rank roughly equal in term of overall human development9. Since 1980, Norway 2001-2005, Japan 1991 and 1993, Canada 1985, 1992 and 1994-2000, Iceland 2006 and 2007 and Switzerland 1980 have had the highest HDI score. Countries with a score of over 0.800 are considered to have a high standard of human development. The top 30 countries have scores ranging from from 0.894 in Brunei to 0.968 in Iceland. All countries included in the UN study on the IMF list had a high HDI. Several small countries, such as Andorra, Liechtenstein and Macau were not reviewed by the United Nations. Thus, these countries have not received an official HDI score10. All countries listed by IMF or11 CIA as advanced as of 2007 - possess an HDI over 0.9 as of 2004. All countries12 possessing an HDI of 0.9 and over as of 2004 - are also listed by IMF or CIA as advanced as of 2007. Thus, all advanced economies as of 2007 are characterized by an HDI score of 0.9 or higher as of 2004. Lists of prosperous economies While there is no official guideline for which country may or may not be considered developed, different institutions have created certain categories for the economically most prosperous countries. The IMF identifies 32 advanced economies,13 while the CIA identifies 34 developed countries and 35 advanced economies.14 The World Bank identifies 65 high income countries, which are classified either as developed or developing by the UN. The criteria used to create these lists differ across these organizations as does the placement of certain countries. The Economist Intelligence Unit has crafted a list of the thirty countries with the highest quality of life. CIA developed country list Map of Developed Countries DCs as described by the CIA Map of Developed Countries DCs as described by the CIA The CIA World Factbook classifies 34 economic entities as developed countries DCs:14 the top group in the hierarchy of developed countries DCs, former USSR/Eastern Europe former USSR/EE, and less developed countries LDCs; includes the market-oriented economies of the mainly democratic nations in the Organization for Economic Cooperation and Development OECD, Bermuda, Israel, South Africa, and the European ministates; also known as the First World, high-income countries, the North, industrial countries; generally have a per capita GDP in excess of $10,000 although four OECD countries and South Africa have figures well under $10,000 and two of the excluded OPEC countries have figures of more than $10,000; the 34 DCs are: Andorra, Australia, Austria, Belgium, Bermuda, Canada, Denmark, Faroe Islands, Finland, France, Germany, Greece, Holy See, Iceland, Ireland, Israel, Italy, Japan, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands, NZ, Norway, Portugal, San Marino, South Africa, Spain, Sweden, Switzerland, Turkey, UK, US; note - similar to the new International Monetary Fund IMF term advanced economies that adds Hong Kong, South Korea, Singapore, and Taiwan but drops Malta, Mexico sic15, South Africa, and Turkey. Flag of Andorra Andorra Flag of the Faroe Islands Faroe Islands Flag of Ireland Ireland Flag of Monaco Monaco Flag of Spain Spain Flag of Australia Australia Flag of Finland Finland Flag of Israel Israel Flag of the Netherlands Netherlands Flag of Sweden Sweden Flag of Austria Austria Flag of France France Flag of Italy Italy Flag of New Zealand New Zealand Flag of Switzerland Switzerland Flag of Belgium Belgium Flag of Germany Germany Flag of Japan Japan Flag of Norway Norway Flag of Turkey Turkey Flag of Bermuda Bermuda UK Flag of Greece Greece Flag of Liechtenstein Liechtenstein Flag of Portugal Portugal Flag of the United Kingdom United Kingdom Flag of Canada Canada Coat of Arms of the Holy See Holy See Flag of Luxembourg Luxembourg Flag of San Marino San Marino Flag of the United States United States Flag of Denmark Denmark Flag of Iceland Iceland Flag of Malta Malta Flag of South Africa South Africa CIA advanced economy list The official classification of advanced economies was originally made by the IMF. The CIA intends to follow the IMF but also to add non-IMF members. Thus, until March 2001, the CIA list was more comprehensive than the IMF list. Since 2001, however, Cyprus, and more recently Slovenia and Malta, were added to the IMF list but not to the CIA advanced economy list. Below is the current CIA advanced economy list, consisting of 35 countries:14 Flag of Andorra Andorra Flag of the Faroe Islands Faroe Islands Flag of Iceland Iceland Flag of Monaco Monaco Flag of South Korea South Korea Flag of Australia Australia Flag of Finland Finland Flag of Ireland Ireland Flag of the Netherlands Netherlands Flag of Spain Spain Flag of Austria Austria Flag of France France Flag of Israel Israel Flag of New Zealand New Zealand Flag of Sweden Sweden Flag of Belgium Belgium Flag of Germany Germany Flag of Italy Italy Flag of Norway Norway Flag of Switzerland Switzerland Flag of Bermuda Bermuda UK Flag of Greece Greece Flag of Japan Japan Flag of Portugal Portugal Flag of the Republic of China Taiwan Flag of Canada Canada Coat of Arms of the Holy See Holy See Flag of Liechtenstein Liechtenstein Flag of San Marino San Marino Flag of the United Kingdom United Kingdom Flag of Denmark Denmark Flag of Hong Kong Hong Kong Flag of Luxembourg Luxembourg Flag of Singapore Singapore Flag of the United States United States IMF advanced economy list Countries described as Advanced Economies by the IMF Countries described as Advanced Economies by the IMF According to the International Monetary Fund the following 32 countries are classified as advanced economies:13 Flag of Australia Australia Flag of Germany Germany Flag of Luxembourg Luxembourg Flag of Slovenia Slovenia Flag of Austria Austria Flag of Greece Greece Flag of Malta Malta Flag of South Korea South Korea Flag of Belgium Belgium Flag of Hong Kong Hong Kong Flag of the Netherlands Netherlands Flag of Spain Spain Flag of Canada Canada Flag of Iceland Iceland Flag of New Zealand New Zealand Flag of Sweden Sweden Flag of Cyprus Cyprus Flag of Ireland Ireland Flag of Norway Norway Flag of Switzerland Switzerland Flag of Denmark Denmark Flag of Israel Israel Flag of Portugal Portugal Flag of the Republic of China Taiwan Flag of Finland Finland Flag of Italy Italy Flag of San Marino San Marino16 Flag of the United Kingdom United Kingdom Flag of France France Flag of Japan Japan Flag of Singapore Singapore Flag of the United States United States FTSE Global Equity Index The FTSE Group classifies countries into three categorizes, the process by which stock markets are classified as either Developed or Emerging markets within the FTSE Global Equity Index Series. The categories are Developed, Advanced Emerging, and Secondary Emerging. FTSE, helped by an expert committee of market practitioners, reviews quality of market criteria for all stock markets included in FTSE GEIS to assess the ease, cost and security of underlying investment transactions by international investors in all countries.17 FTSE classification, as of May 2008:18 Developed: Flag of Australia Australia, Flag of Austria Austria, Flag of Belgium Belgium, Flag of Canada Canada, Flag of Denmark Denmark, Flag of Finland Finland, Flag of France France, Flag of Germany Germany, Flag of Greece Greece19, Flag of Hong Kong Hong Kong, Flag of Ireland Ireland, Flag of Israel Israel20, Flag of Italy Italy, Flag of Japan Japan, Flag of Luxembourg Luxembourg, Flag of the Netherlands Netherlands, Flag of New Zealand New Zealand, Flag of Norway Norway, Flag of Portugal Portugal, Flag of Singapore Singapore, Flag of Spain Spain, Flag of Sweden Sweden, Flag of Switzerland Switzerland, Flag of the United Kingdom United Kingdom and the Flag of the United States United States. Advanced emerging: Flag of Brazil Brazil, Flag of Hungary Hungary21, Flag of Mexico Mexico, Flag of Poland Poland22, Flag of South Africa South Africa, Flag of South Korea South Korea23 and Flag of the Republic of China Taiwan23. Secondary emerging: Flag of Argentina Argentina, Flag of Chile Chile, Flag of the People's Republic of China China, Flag of Colombia Colombia, Flag of the Czech Republic Czech Republic, Flag of Egypt Egypt, Flag of India India, Flag of Indonesia Indonesia, Flag of Malaysia Malaysia, Flag of Morocco Morocco, Flag of Pakistan Pakistan24, Flag of Peru Peru, Flag of the Philippines Philippines, Flag of Russia Russia, Flag of Thailand Thailand and Flag of Turkey Turkey. Quality-of-life survey Main article: Quality-of-life index Research about standards of living and quality of life by the Economist Intelligence Unit resulted in a quality-of-life index. As of 2005, the 30 countries with the highest index are:25 Flag of Ireland Ireland Flag of Switzerland Switzerland Flag of Norway Norway Flag of Luxembourg Luxembourg Flag of Sweden Sweden Flag of Australia Australia Flag of Iceland Iceland Flag of Italy Italy Flag of Denmark Denmark Flag of Spain Spain Flag of Singapore Singapore Flag of Finland Finland Flag of the United States United States Flag of Canada Canada Flag of New Zealand New Zealand Flag of the Netherlands Netherlands Flag of Japan Japan Flag of Hong Kong Hong Kong Flag of Portugal Portugal Flag of Austria Austria Flag of the Republic of China Taiwan Flag of Greece Greece Flag of Cyprus Cyprus Flag of Belgium Belgium Flag of France France Flag of Germany Germany Flag of Slovenia Slovenia Flag of Malta Malta Flag of the United Kingdom United Kingdom Flag of South Korea South Korea See also v d e Economic classification of countries Developed country · Developing country · Least developed country · High income country · Newly industrialized country · Heavily Indebted Poor Countries Worlds Theory First World · Second World · Third World · Fourth World Lists of countries Economic freedom List of countries by economic freedom GDP per capita List of countries by GDP nominal, per capita · List of countries by GDP PPP, per capita, per hour Human Development Index List of countries by Human Development Index Human Poverty Index List of countries by percentage of population living in poverty v d e Power in international relations Types of power Power sociology · Soft power · Hard power · Political power Machtpolitik Realpolitik Types of power status Middle power · Regional power · Great power · Superpower Potential superpowers · Energy superpower · Hyperpower Geopolitics African Century · American Century · Asian Century · British Century · Chinese Century · European Century · Indian Century · Pacific Century Theory and history Historical powers · Polarity in international relations · Power projection · Power transition theory · Second superpower · Superpower collapse · Superpower disengagement Organizations and groups G8 · G8+5 · BRIMC · Next Eleven · SCO · NATO · ANZUS References ^ Sachs, Jeffrey 2005. The End of Poverty. The Penguin Press. 1-59420-045-9. ^ a b Esping-Andersen, G. 1990. The three worlds of welfare capitalism. Princeton, NJ: Princeton University Press. ^ Barr, N. 2004. The economics of the welfare state. New York: Oxford University Press USA. ^ a b Kenworthy, L. 1999. Do social-welfare policies reduce poverty? A cross-national assessment. Social Forces, 773, 1119-1139. ^ a b Bradley, D., Huber, E., Moller, S., Nielson, F. Stephens, J. D. 2003. Determinants of relative poverty in advanced capitalist democracies. American Sociological Review, 683, 22-51. ^ Smeeding, T. 2005. Public policy, economic inequality, and poverty: The United States in comparative perspective. Social Science Quarterly, 86, 955-983. ^ World Bank. 2007. Data Statistics: Country Groups. Retrieved on 2007-06-20. ^ UN. 2005. UNCTAD Handbook of Statistics.. Retrieved on 2007-07-09. ^ UN. 2006. Human Development Report.. Retrieved on 2007-07-07. ^ UN. 2006. Human Development Report: Summary.. Retrieved on 2007-07-07. ^ The official classification of advanced countries is originally made by the International Monetary Fund IMF. The IMF list doesn't deal with non-IMF memebrs. The CIA intends to follow IMF list but adds few countries which aren't dealt with by IMF due to their not being IMF members. By May 2001, the advanced country list of the CIA was more comprehensive than the original IMF list. However, since May 2001, three additional countries Cyprus, Malta and Slovenia have been added to the original IMF list, thus leaving the CIA list not updated. ^ Namely sovereign states, i.e. excluding Macau: In 2003 the government of Macau calculated its HDI as being 0.909 the UN does not calculate Macau's HDI; In January 2007, the People's Daily reported from China Modernization Report 2007: In 2004...Macau...had reached the level of developed countries. However, Macau is not recognized by any international organisation as a developed/advanced territory, while the UNCTAD organisaion of the UN, as well as the CIA, classify Macao as a developing territory. The World Bank classifies Macau as a high income economy along with developed economies as well as with few developing economies. ^ a b IMF Advanced Economies List. World Economic Outlook, Database-WEO Groups and Aggregates Information, April 2008. ^ a b c CIA 2008. Appendix B. International Organizations and Groups. World Factbook.. Retrieved on 2008-04-10. ^ Mexico actually appears in neither list. Many authorities have classified Mexico as a newly industrialized country see e.g., p. 164, Globalization and the Transformation of Foreign Economic Policy, PaweÅ‚ Bożyk, Ashgate Publishing, Ltd., 2006, ISBN 0-75-464638-6, or p. 126, The Limits of Convergence, Mauro F. Guillén, Princeton University Press, 2001, ISBN 0691057052. ^ World Economic Outlook, International Monetary Fund, April 2008, p. 236, first complete paragraph, line 14. ^ FTSE Country Consultation Results March 2004 ^ See FTSE Country Classification, May 2008 ^ Possible change to Advanced Emerging. ^ Implemented on 22nd September 2008 see: Global Equity Index Series, p. 38. ^ Implemented on 22nd September 2008 see: Global Equity Index Series, p. 29. ^ Implemented on 22nd September 2008 see: Global Equity Index Series, p. 57. ^ a b Possible change to Developed. ^ Possible removal from FTSE Global Equity Index Series See here at the end of the first page. ^ The world in 2005: The Economist Intelligence Unit's quality-of-life index, The Economist. Accessed on line January 8, 2007. External links IMF advanced economies The Economist quality of life survey The World Factbook developed countries United Nations Statistics Division definition United Nations Statistics Division developed regions World Bank high-income economies v d e Economic classification of countries Developed country · Developing country · Least developed country · High income country · Newly industrialized country · Heavily Indebted Poor Countries Worlds Theory First World · Second World · Third World · Fourth World Lists of countries Economic freedom List of countries by economic freedom GDP per capita List of countries by GDP nominal, per capita · List of countries by GDP PPP, per capita, per hour Human Development Index List of countries by Human Development Index Human Poverty Index List of countries by percentage of population living in poverty v d e Lists of countries with rankings Geography Agriculture Area: forest · water · Border · Coastline · EEZ · Extreme points: highest · lowest · northernmost · southernmost · Freshwater: withdrawal · irrigation · Agricultural output: fish · milk · fruit · banana · apple · tomato · orange · citrus · tobacco · coffee · cacao · tea · wine · sugarcane · maize · rice · wheat · triticale · rye · barley · oat · buckwheat · millet · sorghum · soybean · sunflower · potato · sugar beet Demographics Society Population: density · growth · HDI · Life expectancy · Sex ratio · Fertility · Infant mortality · Birth rate · Death rate · Undernourishment · Suicides · Homicides · Gun ownership · Firearm-related deaths · HIV/AIDS · Literacy · Student performance · IQ · English speakers · Labour force · Employment · Unemployment · Income equality · Poverty · Immigrants · Religion · Abortion · Homosexuality · Cannabis: annual use · lifetime use · Cocaine · Opiates · Euthanasia · Death penalty · Prisoners · School leaving age · Legal drinking age · Consumption of: tea · coffee · tobacco · beer · wine · alcohol · Quality-of-life · Happiness · EPI · Biosphere reserves · World Heritage Sites · Tourism: visits · competitiveness GDP Finance Nominal: per capita · past · future · PPP: per capita · per hour · past · future · future per capita · GNI per capita · Growth: per capita · industrial · Sector composition · Current account: as % of GDP · Forex reserves · Received FDI · External debt · Public debt · Imports · Exports: per capita · Tax revenue · Exchange rates with USD Energy Industry Energy: consumption · intensity · Electricity: consumption · production · Natural gas: reserves · consumption · production · imports · exports · Oil: reserves · consumption · production · imports · exports · Coal: reserves · production · Uranium: reserves · production · Nuclear power · Renewable energy: hydroelectricity · wind power · Minerals production: bentonite · feldspar · fluorite · mica · asbestos · salt · diamond · Chemicals: iodine · mercury · Metallurgy: iron · steel · bauxite · Al2O3 · aluminium · bismuth · antimony · cobalt · tungsten · strontium · zirconium · niobium · cadmium · molybdenum · manganese · nickel · tin · copper · palladium · platinum · silver · gold · zinc · Automobile industry · Shipbuilding · Emissions: CO2 · CO2 per capita · GDP per emissions Transport Communication Airports · Railways: usage · Rapid transit · Roadways: vehicles · fatalities · Waterways · Merchant marine · Pipelines · Telephone lines · TV broadcast stations · TV sets · Mobile phones · Internet: broadband · E-readiness Politics Military Freedom: press · economic · Privacy · Corruption · Bribes · Property rights · Ease of business · Competitiveness · Globalization · Democracy · Stability · Armed forces · Active troops: per capita · Conscription · Defense budget · Aircraft carriers · Nuclear weapons · Arms exports · UN peacekeepers · Global Peace Sports Olympics: medals · hosts · FIFA World Cup: winners · hosts · rankings · Beach soccer · Futsal · Curling: men · women · Ice hockey: men · women · rankings · Field hockey: men · women · Bandy · Cricket: Test · ODI · Basketball: men · women · Handball: men · women · Volleyball · Davis Cup · Fed Cup · Badminton: men · women · Athletics · Figure skating · Bobsleigh · Luge: natural track · Nordic skiing · Alpine skiing · Chess Retrieved from http://en..org/wiki/Developed_country Categories: Country classifications | Human geography | Economic geography | Development | Lists of countriesHidden categories: All articles with statements | Articles with statements since July 2007 Views Article Discussion this page History Personal tools Log in / create account Navigation Main page Contents Featured content Current events Random article Search Go Search Interaction Community portal Recent changes Contact Donate to Help Toolbox What links here Related changes Upload file Special pages Printable version Permanent link Cite this page Languages العربية Bosanski Català Cebuano ÄŒesky Deutsch Ελληνικά Español Français í•œêµì–´ Bahasa Indonesia עברית Italiano Nederlands 日本語 ‪Norsk bokmÃ¥l‬ Português РуÑ?Ñ?кий Suomi Svenska Tiếng Việt УкраїнÑ?ька ä¸æ–‡ This page was last modified on 13 September 2008, at 21:42
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