World map representing Human Development Index categories (based on 2017 data, published in 2018)[1]
  0.800–1.000 (very high)
  0.700–0.799 (high)
  0.555–0.699 (medium)
  0.350–0.554 (low)
  Data unavailable
  Advanced economies
  Emerging and developing economies (not least developed)
  Emerging and developing economies (least developed)
Classifications by the IMF and the UN[2]

A developed country, industrialized country, more developed country, or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living.[3] Which criteria are to be used and which countries can be classified as being developed are subjects of debate.

Developed countries have generally post-industrial economies, meaning the service sector provides more wealth than the industrial sector. They are contrasted with developing countries, which are in the process of industrialisation or are pre-industrial and almost entirely agrarian, some of which might fall into the category of Least Developed Countries. As of 2015, advanced economies comprise 60.8% of global GDP based on nominal values and 42.9% of global GDP based on purchasing-power parity (PPP) according to the International Monetary Fund.[4] In 2017, the ten largest advanced economies by GDP in both nominal and PPP terms were Australia, Canada, France, Germany, Italy, Japan, South Korea, Spain, the United Kingdom, and the United States.[5]

Contents

Similar termsEdit

Terms linked to the concept developed country include "advanced country", "industrialized country", "'more developed country" (MDC), "more economically developed country" (MEDC), "Global North country", "first world country", and "post-industrial country". The term industrialized country may be somewhat ambiguous, as industrialisation is an ongoing process that is hard to define. The first industrialized country was the United Kingdom, followed by Belgium. Later it spread further to Germany, United States, France and other Western European countries. According to some economists such as Jeffrey Sachs, however, the current divide between the developed and developing world is largely a phenomenon of the 20th century.[6]

Definition and criteriaEdit

Economic criteria have tended to dominate discussions. One such criterion is income per capita; countries with high gross domestic product (GDP) per capita would thus be described as developed countries. Another economic criterion is industrialisation; countries in which the tertiary and quaternary sectors of industry dominate would thus be described as developed. More recently another measure, the Human Development Index (HDI), which combines an economic measure, national income, with other measures, indices for life expectancy and education has become prominent. This criterion would define developed countries as those with a very high (HDI) rating. The index, however, does not take into account several factors, such as the net wealth per capita or the relative quality of goods in a country. This situation tends to lower the ranking for some of the most advanced countries, such as the G7 members and others.[7][8]

According to the United Nations Statistics Division:

There is no established convention for the designation of "developed" and "developing" countries or areas in the United Nations system.[9]

And it notes that:

The designations "developed" and "developing" are intended for statistical convenience and do not necessarily express a judgement about the stage reached by a particular country or area in the development process.[10]

Human Development Index (HDI)Edit

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."

Since 1990, Norway (2001–2006, 2009–2017), Japan (1990–1991 and 1993), Canada (1992 and 1994–2000) and Iceland (2007–2008) have had the highest HDI score.

Many countries listed by IMF or[Note 1] CIA as "advanced", possess an HDI over 0.800, the threshold for "very high" human development. Many countries[Note 2] possessing an HDI of 0.800 and over are also listed by IMF or CIA as "advanced". Thus, many "advanced economies" are characterized by an HDI score of 0.800 or higher. Since April 2016, the IMF classifies Macau as an advanced economy.[11]

The 2018 Human Development Report by the United Nations Development Programme was released on 14 September 2018, and calculates HDI values based on estimates for 2017.[citation needed] Below is the list of the "very high human development" countries:[12]

  •   = increase.
  •   = steady.
  •   = decrease.
  • The number in parentheses represents the number of ranks the country has climbed (up or down) relative to the ranking in the year of 2016.

As a non-UN member, the government of Taiwan calculates its own HDI, which had a value of 0.907 in 2017,[13][need quotation to verify] ranked 21 globally. Additionally, while the HDI for the Chinese special administrative region of Hong Kong is calculated by the UN, it is not for Macau. The Macanese government calculated the territory's HDI to be 0.868 in 2011. These values place both Taiwan and Macau well within the list of countries with "Very high human development".[14] Furthermore, in 2009 a United Nations project calculated the HDI for all of its members, as well as Taiwan, Macau, and many dependent territories. The HDI values for the countries of San Marino and Monaco, which have not been included in official annual HDI reports, were found to be at 0.961 and 0.956 respectively. This places both countries firmly within the category of countries with "Very high human development" as well. The dependent territories with HDI values equivalent to "Very high human development" were: Jersey, Cayman Islands, Bermuda, Guernsey, Gibraltar, Norfolk Island, Faroe Islands, Isle of Man, British Virgin Islands, Falkland Islands, Aruba, Puerto Rico, Martinique, Greenland, and Guam.[15] Of note, the HDI values in the 2009 report were calculated using the old HDI formula, while HDI values after the year 2010 are calculated with a different formula.

High-income economiesEdit

Some institutions have produced lists of developed countries: the UN (list shown above), the CIA,[16] and some providers of stock market indices (the FTSE Group, MSCI, S&P, Dow Jones, STOXX, etc.). The latter is not included here because its association of developed countries with countries with both high incomes and developed markets is not deemed as directly relevant.[why?][Note 3]

However many other institutions have created more general lists referred to when discussing developed countries. For example, the International Monetary Fund (IMF) identifies 39 "advanced economies".[11][17] The OECD's 36 members are known as the "developed countries club"[18][19][20] The World Bank identifies 81 "high income countries".[21]

World Bank high-income economiesEdit

 
World Bank high-income economies in 2019

According to the World Bank the following 81 countries (including territories) are classified as "high-income economies".[21] As of 2018, high-income economies are those that had a GNI per capita of $12,056 or more – in 2017.

36 countries and territories wholly or partly in Europe:

19 countries and territories wholly or partly in North America:

15 countries and territories wholly or partly in Asia:

7 countries and territories wholly or partly in Oceania:

3 countries wholly or partly in South America:

1 country wholly or partly in Africa:

c Between 1994 and 2009, as part of the   Netherlands Antilles.

High-income OECD membersEdit

According to the World Bank, the following 34 members are classified as "OECD High-Income":[22][23]

26 countries wholly or partly in Europe:

3 countries wholly or partly in Asia:

2 countries in North America:

2 countries wholly or partly in Oceania:

1 country wholly or partly in South America:

Development Assistance Committee membersEdit

 
Member nations of the Development Assistance Committee

There are 29 OECD member countries and the European Union—in the Development Assistance Committee (DAC),[24] a group of the world's major donor countries that discuss issues surrounding development aid and poverty reduction in developing countries.[25] The following OECD member countries are DAC members:

23 countries wholly or partly in Europe:

2 countries wholly or partly in Asia:

2 countries wholly or partly in North America:

2 countries wholly or partly in Oceania:

IMF advanced economiesEdit

 
  Countries described as Advanced Economies by the IMF

According to the International Monetary Fund, the following 39 economies are classified as "advanced economies":[11]

33 countries and territories wholly or partly in Europe:

8 countries and territories in Asia:

4 countries and territories in North America:

2 countries in Oceania-Antarctica:

d The CIA has modified an older version of the IMF's list of Advanced Economies, noting that the IMF's Advanced Economies list "would presumably also cover the following nine smaller countries of Andorra, Bermuda, Faroe Islands, Guernsey, Holy See, Jersey, Liechtenstein, Monaco, and San Marino[...]"[16]

Paris Club membersEdit

 
Permanent members of the Paris Club

There are 22 permanent members in the Paris Club (French: Club de Paris), a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.

15 countries wholly or partly in Europe:

3 countries wholly or partly in Asia:

3 countries in the Americas:

1 country in Oceania:


Comparative Table (2018)Edit

Comparative table of countries with "very high" human development (same or higher than 0.800), according to UNDP; members OECD; "advanced" economies, according to IMF; "high income" economies, according to World Bank and income per capita (purchasing power parity) higher than $22,000, according to the IMF. (ot)

Developed Countries
Countries HDI [1] OECD [26] IMF [27] WB [28] per capita PPP [29]
2018
  Lithuania Yes since 2005 Yes since 2018 Yes since 2015 Yes since 2012 Yes since 2011
2016
  Latvia Yes since 2005 Yes since 2016 Yes since 2014 Yes since 2012 Yes since 2013
2011
  Estonia Yes since 2003 Yes since 2010 Yes since 2011 Yes since 2006 Yes since 2011
2010
  Israel Yes before 1990 Yes since 2010 Yes before 2001 Yes since 1987 Yes since 2004
  Slovenia Yes since 1998 Yes since 2010 Yes since 2007 Yes since 1997 Yes since 2004
2009
  Czech Republic Yes since 2001 Yes since 1995 Yes since 2009 Yes since 2006 Yes since 2005
  Slovak Republic Yes since 2006 Yes since 2000 Yes since 2009 Yes since 2007 Yes since 2007
2005
  Portugal Yes since 2005 Yes since 1961 Yes before 2001 Yes since 1994 Yes since 2004
  South Korea Yes since 1999 Yes since 1996 Yes before 2001 Yes since 1993 Yes since 2005
2002
  Greece Yes since 2001 Yes since 1961 Yes before 2001 Yes since 1996 Yes since 2002
2001
  New Zealand Yes before 1990 Yes since 1973 Yes before 2001 Yes since 1987 Yes since 2001
1999
  Spain Yes since 1995 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1999
1997
  Finland Yes since 1994 Yes since 1969 Yes before 2001 Yes since 1987 Yes since 1997
  Ireland Yes since 1996 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1997
1996
  Iceland Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1996
  United Kingdom Yes since 1992 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1996
1995
  Italy Yes since 1995 Yes since 1962 Yes before 2001 Yes since 1987 Yes since 1994
  Sweden Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1995
1994
  Australia Yes before 1990 Yes since 1971 Yes before 2001 Yes since 1987 Yes since 1994
  Belgium Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1994
  Canada Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1994
  France Yes since 1993 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1994
  Luxembourg Yes since 1994 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1985
1993
  Japan Yes before 1990 Yes since 1964 Yes before 2001 Yes since 1987 Yes since 1993
1992
  Austria Yes since 1991 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1992
1991
  Denmark Yes since 1991 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1991
  Germany Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1991
  Netherlands Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1991
1989
  United States Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1989
1987
  Norway Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1985
   Switzerland Yes before 1990 Yes since 1961 Yes before 2001 Yes since 1987 Yes since 1985
Countries to be considered developed in the future (1 pending recognition)
Countries HDI [1] OECD [26] IMF [27] WB [28] per capita PPP [29]
  Hungary Yes since 2005 Yes since 1996 No Yes since 2014 Yes since 2010
  Chile Yes since 2008 Yes since 2010 No Yes since 2012 Yes since 2013
  Poland Yes since 2003 Yes since 1996 No Yes since 2009 Yes since 2011
  Malta Yes since 2003 No Yes since 2008 Yes since 2002 Yes since 2003
  Cyprus Yes since 2000 No Yes since 2001 Yes since 1988 Yes since 1998
  Singapore Yes since 1999 No Yes before 2001 Yes since 1987 Yes since 1990
  Hong Kong Yes before 1990 No Yes before 2001 Yes since 1987 Yes since 1994
In process (2 pending recognitions)
Countries HDI [1] OECD [26] IMF [27] WB [28] per capita PPP [29]
  Croatia Yes since 2007 No No Yes since 2017 Yes since 2015
  Uruguay Yes since 2014 No No Yes since 2012 Yes since 2017
  Macau No data No Yes since 2016 Yes since 1994 Yes before 1980
  Puerto Rico No data No Yes since 2016 Yes since 2002 Yes since 1998
  Kuwait Yes since 2015 No No Yes since 1987 Yes before 1980
  Bahamas Yes since 2012 No No Yes since 1987 Yes since 1997
  Bahrain Yes since 2012 No No Yes since 2001 Yes since 1986
  Oman Yes since 2012 No No Yes since 2007 Yes since 1991
  San Marino No data No Yes since 2012 Yes since 2000 Yes before 1980
  Saudi Arabia Yes since 2010 No No Yes since 2004 Yes since 1985
  Taiwan No data No Yes before 2001 Yes since 1987 Yes since 2002
  United Arab Emirates Yes since 2001 No No Yes since 1987 Yes before 1980
  Qatar Yes since 1997 No No Yes since 1987 Yes before 1980
  Brunei Yes since 1994 No No Yes since 1990 Yes before 1980
Other recognitions
Countries HDI [1] OECD [26] IMF [27] WB [28] per capita PPP [29]
  Argentina Yes No No Yes No
  Andorra Yes No No Yes No data
  Antigua and Barbuda No No No Yes Yes since 2014
  Aruba No data No No Yes No data
  Barbados Yes No No Yes No
  Bermuda No data No No Yes No data
  Belarus Yes No No No No
  British Virgin Islands No data No No Yes No data
  Bulgaria Yes No No No No
  Cayman Islands No data No No Yes No data
Channel Islands No data No No Yes No data
  Curacao No data No No Yes No data
  Equatorial Guinea No No No Yes Yes since 2002
  Faroe Islands No data No No Yes No data
  French Polynesia No data No No Yes No data
  Gibraltar No data No No Yes No data
  Greenland No data No No Yes No data
  Guam No data No No Yes No data
  Isle of Man No data No No Yes No data
  Kazakhstan Yes No No No Yes since 2012
  Liechtenstein Yes No No Yes No data
  Malaysia Yes No No No Yes since 2012
  Mauritius No No No Yes Yes since 2017
  Mexico No Yes since 1994 No No No
  Monaco No data No No Yes No data
  Montenegro Yes No No No No
  New Caledonia No data No No Yes No data
  Northern Mariana Islands No data No No Yes No data
  Palau No No No Yes No
  Panama No No No Yes Yes since 2015
  Romania Yes No No No Yes since 2016
  Russia Yes No No No Yes since 2010
  Saint Kitts and Nevis No No No Yes Yes since 2013
  Seychelles No No No Yes Yes since 2012
  Sint Maarten No data No No Yes No data
  Trinidad and Tobago No No No Yes Yes since 2005
  Turkey No Yes since 1961 No No No
  Turks and Caicos Islands No data No No Yes No data
  United States Virgin Islands No data No No Yes No data

RankingsEdit

Outstanding countries from Comparative table above as "Developed" (top20) and "1 and 2 pending recognitions" (1PR/2PR).

Countries / Cities per capita PPP [30] Quality of living

(city) [31]

HDI [32] Democracy Peace [33] Prosperity [34] Corruption [35] Economic Freedom [36] Competitiveness Doing Business [37] Gay friendly [38] Environmental Performance [39] Happiness [40] Social Progress [41] Global Talent [42] PISA science PISA read PISA maths Mobile internet speed [43] Fixed internet speed
2018 2019 2018 2019 2018 2018 2019 2019 2018 2018 2019 2018 2019 2018 2019 2016 2016 2016 2019 2019
  Denmark / Copenhagen (top20) $52,120 8 11 5 5 5 1 14 10 3 4 3 2 4 5 20 17 12 10 18
  New Zealand / Wellington (top20) $40,135 15 16 4 2 2 2 3 18 1 4 17 8 10 11 12 10 21 18 23
  Chile (1PR) / Santiago $25,978 93 44 23 28 38 27 18 33 56 47 84 26 34 32 44 42 48 87 33
  Uruguay (2PR) / Montevideo $23,274 78 55 15 37 30 23 40 53 95 17 47 33 38 46 47 46 51 56 54

See alsoEdit

NotesEdit

  1. ^ The official classification of "advanced economies" is originally made by the International Monetary Fund (IMF). The IMF list doesn't deal with non-IMF members. The Central Intelligence Agency (CIA) intends to follow IMF list but adds few economies which aren't dealt with by IMF due to their not being IMF members. By May 2001, the advanced country list of the CIA Archived 9 April 2008 at the Wayback Machine 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.
  2. ^ 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 Archived 7 December 2008 at the Wayback Machine reported (from China Modernization Report 2007): "In 2004... Macau... had reached the level of developed countries". The UNCTAD Archived 10 July 2007 at the Wayback Machine organisation (of the UN), as well as the CIA Archived 9 April 2008 at the Wayback Machine, classify Macau 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).
  3. ^ The Developed Countries Glossary Archived 20 December 2014 at the Wayback Machine entry reads: "The following countries are classified by FTSE as developed countries: Australia, Austria, Belgium/Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong (People's Republic of China), Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, South Korea, Spain, Sweden, Switzerland, United Kingdom and the United States."

ReferencesEdit

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  2. ^ https://www.imf.org/external/datamapper/NGDPD@WEO/WEOWORLD/ADVEC
  3. ^ Developed Economy Definition Archived 22 March 2016 at the Wayback Machine. Investopedia (16 April 2010). Retrieved 2013-07-12.
  4. ^ IMF GDP data (October 2015) Archived 4 March 2016 at the Wayback Machine
  5. ^ "All countries/Advanced economies". www.imf.org. Retrieved 29 June 2018.
  6. ^ Sachs, Jeffrey (2005). The End of Poverty. New York, New York: The Penguin Press. ISBN 1-59420-045-9.
  7. ^ The Courier. Commission of the European Communities. 1994.
  8. ^ "Human development index - Economics Help". Economics Help. Retrieved 23 September 2018.
  9. ^ "Millennium Development Indicators: World and regional groupings". United Nations Statistics Division. 2003. Note b. Archived from the original on 10 February 2005. Retrieved 13 May 2017.
  10. ^ "Standard Country and Area Codes Classifications (M49): Developed Regions". United Nations Statistics Division. Archived from the original on 11 July 2017. Retrieved 13 May 2017.
  11. ^ a b c IMF Advanced Economies List. World Economic Outlook, April 2016, p. 148 Archived 21 April 2016 at the Wayback Machine
  12. ^ "Human Development Report 2018 – "Human Development Indices and Indicators"" (PDF). HDRO (Human Development Report Office) United Nations Development Programme. pp. 32–35. Retrieved 14 September 2018.
  13. ^ "國情統計通報" (PDF) (in Chinese). Directorate General of Budget, Accounting and Statistics, Executive Yuan, R.O.C. 2018. Retrieved 26 January 2019.
  14. ^ Macau in Figures, 2013 Archived 24 October 2013 at the Wayback Machine
  15. ^ Filling Gaps in the Human Development Index Archived 5 March 2016 at the Wayback Machine, United Nations ESCAP, February 2009
  16. ^ a b CIA (2008). "Appendix B. International Organizations and Groups". World Factbook. Archived from the original on 9 April 2008. Retrieved 10 April 2008.
  17. ^ World Economic Outlook Archived 21 April 2016 at the Wayback Machine, International Monetary Fund, September 2011, p. 165.
  18. ^ "Archived copy". Archived from the original on 21 February 2009. Retrieved 25 January 2009.CS1 maint: Archived copy as title (link)
  19. ^ Indiana Express Archived 27 January 2010 at the Wayback Machine
  20. ^ Minutes of Forum #26:Global Strategy Series 2 - Japan as It Should Be (Outline) | Economic and Social Research Institute, Cabinet Office, Government of Japan Archived 30 October 2007 at the Wayback Machine. Esri.go.jp. Retrieved 12 July 2013.
  21. ^ a b Country and Lending Groups. World Bank. Accessed on 10 July 2018.
  22. ^ "Doing Business 2019 Fact Sheet: OECD High-Income" (PDF). World Bank. Retrieved 31 October 2018.
  23. ^ "Doing Business 2019 Regional Profile: OECD High Income" (PDF). World Bank. Retrieved 31 October 2018.
  24. ^ Peer reviews of DAC members - Organisation for Economic Co-operation and Development Archived 27 May 2013 at the Wayback Machine. Oecd.org. Retrieved 22 October 2013.
  25. ^ DAC website >> "The DAC in Dates" Archived 15 February 2010 at the Wayback Machine, On the DAC's self-description, see the introductory letter. On other events, refer to the relevant section by date.
  26. ^ a b c d http://www.oecd.org/about/membersandpartners/list-oecd-member-countries.htm
  27. ^ a b c d "World Economic Outlook Database - Changes to the Database". www.imf.org. Retrieved 7 February 2019.
  28. ^ a b c d https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups
  29. ^ a b c d "Report for Selected Countries and Subjects". www.imf.org. Retrieved 7 February 2019.
  30. ^ "World Economic Outlook Database April 2019". www.imf.org. Retrieved 14 May 2019.
  31. ^ "Quality of Living City Ranking | Mercer". mobilityexchange.mercer.com. Retrieved 27 March 2019.
  32. ^ "Human Development Report 2018 – "Human Development Indices and Indicators"" (PDF). HDRO (Human Development Report Office) United Nations Development Programme. pp. 22–25. Retrieved 14 September 2018.
  33. ^ http://visionofhumanity.org/indexes/global-peace-index/
  34. ^ https://www.prosperity.com/
  35. ^ https://www.transparency.org/research/cpi
  36. ^ https://www.heritage.org/index/ranking
  37. ^ "Rankings". World Bank. Retrieved 27 March 2019.
  38. ^ "SPARTACUS Gay Travel Index 2019 | Spartacus Gay Travel Blog". Retrieved 27 March 2019.
  39. ^ "Downloads | Environmental Performance Index". epi.envirocenter.yale.edu. Retrieved 27 March 2019.
  40. ^ "Home". worldhappiness.report. Retrieved 27 March 2019.
  41. ^ "2018 Social Progress Index". 2018 Social Progress Index. Retrieved 27 March 2019.
  42. ^ "GTCI Report 2019 - Country Data". GTCI Report 2019. Retrieved 27 March 2019.
  43. ^ "Speedtest Global Index – Monthly comparisons of internet speeds from around the world". Speedtest Global Index. Retrieved 14 May 2019.

External linksEdit