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A developed country, industrialized country, or "more developed country" (MDC), is a sovereign state that has a highly 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), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living.[1] Which criteria are to be used and which countries can be classified as being developed are subjects of debate. Developed countries have 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 industrialization, or undeveloped countries, which are pre-industrial and almost entirely agrarian. According to the International Monetary Fund, advanced economies comprise 65.8% of global nominal GDP and 52.1% of global GDP (PPP) in 2010.[2] In 2012, the ten largest advanced economies by either nominal GDP or GDP (PPP) are the United States, Japan, Germany, France, the United Kingdom, Italy, Canada, Australia, Spain and South Korea.[3] Similar terms See also: North–South divide Terms similar to 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 industrialization is an ongoing process that is hard to define. The term MEDC is one used by modern geographers[citation needed] to specifically describe the status of the countries referred to: more economically developed. 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.[4] Definition and criteria 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 industrialization; 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. However, many anomalies exist when determining "developed" status by whichever measure is used.[examples needed] Kofi Annan, former Secretary-General of the United Nations, defined a developed country as follows: "A developed country is one that allows all its citizens to enjoy a free and healthy life in a safe environment."[5] But 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.[6] 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.[7] The UN also notes "In common practice, Japan and South Korea in Asia, Canada and the United States in Northern America, Australia and New Zealand in Oceania, and western Europe are considered "developed" regions or areas. In international trade statistics, the Southern African Customs Union is also treated as a developed region and Israel as a developed country; countries emerging from the former Yugoslavia are treated as developing countries; and countries of Central Europe and of the Commonwealth of Independent States (Russian Federation, Ukraine, Belarus, and Central Asia; code 172) in Europe are not included under either developed or developing regions." Human Development Index (HDI) Main articles: Human Development Index and List of countries by Human Development Index World map by quartiles of Human Development Index in 2013. Very High High Medium Low Data unavailableThe 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, 2009–2013), Japan (1990–91 and 1993), Canada (1992 and 1994–2000) and Iceland (2007–08) have had the highest HDI score. The top 47 countries have scores ranging from 0.793 in Barbados to 0.955 in Norway. Many countries listed by IMF or[8] CIA as "advanced" (as of 2009), possess an HDI over 0.788 (as of 2010). Many countries[9] possessing an HDI of 0.788 and over (as of 2010), are also listed by IMF or CIA as "advanced" (as of 2009). Thus, many "advanced economies" (as of 2009) are characterized by an HDI score of 0.9 or higher (as of 2007). The latest index was released on 14 March 2013 and covers the period up to 2012. The following are the 47 countries in the top quartile - having an HDI above 0.8, and classified as possessing a "Very high human development". Note: The green arrows (), red arrows (), and blue dashes () represent changes in rank when compared to the 2011 data – published in the 2011 report. 1. Norway 0.955 () 2. Australia 0.938 () 3. United States 0.937 ( 1) 4. Netherlands 0.921 ( 1) 5. Germany 0.920 ( 4) 6. New Zealand 0.919 ( 1) 7. Ireland 0.916 () 8. Sweden 0.916 ( 3) 9. Switzerland 0.913 ( 2) 10. Japan 0.912 ( 2) 11. Canada 0.911 ( 5) 12. South Korea 0.909 ( 3) 13. Hong Kong 0.906 () 14. Iceland 0.906 () 15. Denmark 0.901 ( 1) 16. Israel 0.900 ( 1) 17. Belgium 0.897 ( 1) 18. Austria 0.895 ( 1) 19. Singapore 0.895 ( 7) 20. France 0.893 () 21. Finland 0.892 ( 1) 22. Slovenia 0.892 () 23. Spain 0.885 () 24. Liechtenstein 0.883 ( 16) 25. Italy 0.881 ( 1) 26. Luxembourg 0.875 ( 1) 27. United Kingdom 0.875 ( 1) 28. Czech Republic 0.873 ( 1) 29. Greece 0.860 () 30. Brunei 0.855 ( 1) 31. Cyprus 0.848 ( 1) 32. Malta 0.847 ( 4) 33. Andorra 0.846 ( 1) 34. Estonia 0.846 () 35. Slovakia 0.840 () 36. Qatar 0.834 ( 1) 37. Hungary 0.831 ( 1) 38. Barbados 0.825 ( 9) 39. Poland 0.821 () 40. Chile 0.819 ( 4) 41. Lithuania 0.818 ( 1) 42. United Arab Emirates 0.818 ( 12) 43. Portugal 0.816 ( 2) 44. Latvia 0.814 ( 1) 45. Argentina 0.811 () 46. Seychelles 0.806 ( 6) 47. Croatia 0.805 ( 1) As a non-UN member, the government of Taiwan calculates its own HDI, which had a value of 0.882 in 2011.[10] 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".[11] 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, and Guam.[12] 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. Average disposable wage of OECD members Main article: List of countries by average wage While GDP per capita is often used to measure how developed a country is, it includes components that do not contribute to a citizen's standard of living. GDP per capita may increase while real incomes for the majority decline. However, measuring only wages and salaries gives a more accurate picture of a country's standard of living. Unlike the gross wage, which can be a misleading indicator of the well-being of a citizen since it does not represent the full amount of money the worker will be left to consume on goods or services, the disposable wage excludes compulsory deductions such as income tax, municipal tax, provincial/state income tax, social security (pension plan, medicare) and compulsory insurance. The list below has compulsory deductions applied with rates obtained from the OECD Tax Database, which assumes that the citizen is single with no children, with an income level 100% of the average wage.[13] All monetary values are based on the OECD's purchasing power parity exchange rates. Note that the OECD does not publish data for some countries and hence they are not listed. rank Country Disposable income in 2012 USD[14] Compulsory deduction[15] Gross income in 2012 USD[16] 1 United States 38,753 29.6% 55,047 2 Ireland 38,210 25.9% 51,565 3 Luxembourg 33,373 36.6% 52,639 4 Australia 33,319 32.9% 49,655 5 Switzerland 32,066 39.8% 53,265 6 Canada 31,501 30.8% 45,521 7 United Kingdom 29,938 32.3% 44,222 8 South Korea 29,038 21.0% 36,757 9 Norway 28,543 38.5% 46,412 10 Denmark 27,424 39.1% 45,031 11 Japan 23,486 31.2% 34,137 12 Austria 22,813 48.9% 44,644 13 Finland 22,548 42.5% 39,214 14 Sweden 22,512 43.0% 39,494 15 Netherlands 22,064 52.7% 46,646 16 Germany 21,187 49.7% 42,121 17 Belgium 20,894 56.0% 47,487 18 Israel 20,795 27.6% 28,722 19 Spain 20,232 41.4% 34,525 20 France 19,721 50.2% 39,600 21 Slovenia 18,575 42.3% 32,193 22 Italy 16,789 50.4% 33,849 23 Greece 15,142 41.9% 26,062 24 Portugal 14,621 36.7% 23,098 25 Poland 12,582 40.4% 21,110 26 Czech Republic 11,637 43.2% 20,487 27 Slovakia 11,479 43.2% 20,210 28 Estonia 10,642 41.6% 18,222 29 Hungary 10,288 49.4% 20,332 Other lists of developed countries Only three institutions have produced lists of "developed countries". The three institutions and their lists are the UN list (shown above), the CIA[17] list and the FTSE Group's list, whose list is not included because its association of developed countries with countries with both high incomes and developed markets is not deemed as directly relevant here.[18] However many institutions have created lists which are sometimes referred to when people are discussing developed countries. The International Monetary Fund (IMF) identifies 35 "advanced economies",[19][20] The OECD, also widely known as the "developed countries club"[21][22][23] has 34 members. The World Bank identifies 66 "high income countries". The EIU's Quality-of-life survey and a list of countries with welfare states are also included here. The criteria for using all these lists and for countries' inclusion on these lists are often not properly spelt out, and several of these lists are based on old data. IMF advanced economies Countries described as Advanced Economies by the IMF.According to the IMF the following 35 economies are classified as "advanced economies":[19] Australia Austria Belgium Canada Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hong Kong Iceland Ireland Israel Italy Japan Luxembourg Malta Netherlands New Zealand Norway Portugal San Marino Singapore Slovakia Slovenia South Korea Spain Sweden Switzerland Taiwan United Kingdom United States 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"[17] some smaller countries. These include: See also: The World Factbook list of developed countries Andorra · Faroe Islands · Holy See · Liechtenstein · Monaco World Bank high-income economies Economies Developed according to the World BankMain article: World Bank high-income economy According to the World Bank, there are 76 "high-income economies".[24] The list includes most of Europe, Russia, Japan, South Korea, Australia, New Zealand, the USA, Canada, Uruguay, Chile, United Arab Emirates and Saudi Arabia. High-income OECD members There are 30 members in the High-income OECD category, as determined by the World Bank.[25] The High-income OECD membership is as follows: 23 countries in Europe: Austria Belgium Czech Republic Denmark Estonia Finland France Germany Greece Iceland Ireland Italy Luxembourg Netherlands Norway Poland Portugal Slovakia Slovenia Spain Sweden Switzerland United Kingdom 3 countries in Asia: Israel Japan South Korea 3 countries in the Americas: Canada Chile United States 2 countries in Oceania: Australia New Zealand Development Assistance Committee members Member nations of the Development Assistance CommitteeThere are 29 members — 28 selected OECD member countries and the European Union—in the Development Assistance Committee (DAC),[26] a group of the world's major donor countries that discuss issues surrounding development aid and poverty reduction in developing countries.[27] The following OECD member countries are DAC members: 22 countries in Europe: Austria (since 1965) Belgium (since 1961) Czech Republic (since 2013) Denmark (since 1963) Finland (since 1975) France (since 1961) Germany (since 1961) Greece (since 1999) Iceland (since 2013) Ireland (since 1985) Italy (since 1961) Luxembourg (since 1992) Netherlands (since 1961) Norway (since 1962) Poland (since 2013) Portugal (since 1961)1 Slovakia (since 2013) Spain (since 1991) Sweden (since 1965) Switzerland (since 1968) United Kingdom (since 1961) 2 countries in Asia: Japan (since 1961) South Korea (since 2010) 2 countries in North America: Canada (since 1961) United States (since 1961) 2 countries in Oceania: Australia (since 1966) New Zealand (since 1973) 1 Joined the DAC in 1961, withdrew in 1974 and re-joined in 1991. Economist's quality-of-life survey of 2005 Research about standard of living and quality of life by the Economist Intelligence Unit resulted in a quality-of-life index, covering 111 countries. As of 2005, the top 30 countries are:[28] 1. Ireland 2. Switzerland 3. Norway 4. Luxembourg 5. Sweden 6. Australia 7. Iceland 8. Italy 9. Denmark 10. Spain 11. Singapore 12. Finland 13. United States 14. Canada 15. New Zealand 16. Netherlands 17. Japan 18. Hong Kong 19. Portugal 20. Austria 21. Taiwan 22. Greece 23. Cyprus 24. Belgium 25. France 26. Germany 27. Slovenia 28. Malta 29. United Kingdom 30. South Korea Newsweek's the world's best countries Index of 2010 Newsweek published in 2010 the "world's best countries" index, measuring "education, health, quality of life, economic dynamism, and political environment" in 100 countries. As of 2010, the top 30 countries are:[29] 1. Finland 2. Switzerland 3. Sweden 4. Australia 5. Luxembourg 6. Norway 7. Canada 8. Netherlands 9. Japan 10. Denmark 11. United States 12. Germany 13. New Zealand 14. United Kingdom 15. South Korea 16. France 17. Ireland 18. Austria 19. Belgium 20. Singapore 21. Spain 22. Israel 23. Italy 24. Slovenia 25. Czech Republic 26. Greece 27. Portugal 28. Croatia 29. Poland 30. Chile The top 30 countries in terms of quality of life are: 1. Norway 2. Switzerland 3. Luxembourg 4. Finland 5. Denmark 6. Australia 7. Germany 8. Sweden 9. United States 10. Canada 11. France 12. Austria 13. Japan 14. Netherlands 15. Ireland 16. New Zealand 17. Belgium 18. United Arab Emirates 19. United Kingdom 20. Italy 21. Greece 22. Spain 23. Singapore 24. Kuwait 25. Israel 26. Slovenia 27. Portugal 28. Czech Republic 29. South Korea 30. Slovakia |
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