Dimensions of Development PDF Summary
Dear readers, here we are offering Dimensions of Development PDF to all of you. in Latin America. The 1997 Asian economic crisis pushed East Asia’s rankings down somewhat with respect to Latin America, since East Asia experienced a decline of 3.65 percent for 1997–98, compared to positive growth of 1.9 percent for Latin America.
The variance for this period was much greater in East Asia, ranging from Singapore, which saw only a minor drop in per-capita income, to Indonesia, which encountered economic disaster. Dimensions of Development can be understood by the following PDF easily.
Dimensions of Development PDF
If income is measured in terms of purchasing-power parity rather than nominal dollars, some of the rankings at the top change dramatically: Japan, whose nominal per-capita income is distorted by wide fluctuations in the yen-dollar exchange rate, falls below Singapore, while China rises quite substantially; in Latin America, Chile moves ahead of Argentina. In purchasing-power terms, incomes in East Asia as a whole are still greater than those in Latin America, but the median per-capita GNP levels are close for the two regions. Obviously, however, the East Asian average is weighed down significantly by China.
With respect to growth rates rather than per-capita GNP, East Asia consistently outperformed Latin America. East Asia as a whole started from a much lower base, yet it has achieved much higher and more sustained levels of growth. Until 1995, annual growth rates of per-capita GNP in East Asia averaged around 5 percent. In contrast, Latin America has seen growth rates of around 1 percent. The variance in growth rates among East Asian countries, however, has generally been greater than in Latin America.
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