This Great Graphic comes from The Economist. It depicts world GDP per capita and shows the contribution from advanced and developing countries. It notes that per capita GDP growth rates have returned to pre-crisis levels, though the composition has changed.
Developing countries are contributing the lion’s share of the world growth. The financial crisis has been centered in the advanced economies. However, we note that the US is the only major advanced economy where output has surpassed the pre-crisis levels.
There also seems to be a measuring problem here. Do those categories even have merit or is it like the label “recession” which has no agreed upon definition. Are advanced and developing categories fixed over time? If a country, such as Israel or South Korea, OECD members incidentally, have higher per capita GDP than some countries in western and central Europe, should they still be considered developing ? If some countries can move up from developing to advanced, can’t other countries, such as Greece, for example, slip from advanced to developing?
This post was originally published at MarctoMarket and is reproduced here with permission.
One Response to “Great Graphic: World GDP Per Capita”
R C Sarangi • October 16th, 2012 at 9:32 am
Great graphics! Trend of share of developing countries indicates the obvious, ever rising from '92 onwards. There is a caveat, however, that developing countries' share dips cyclically every 10 years ie, 1990, 1998, and last during 2008. Will one expect another dip during 2015-16? The moot point is, what indicators will the world community monitor, control, strategize to avoid such an eventuality ?
