Syndicate content

GDP

World Bank Teams up with Google to Share Development Information

Joe Qian's picture

What’s the Gross Domestic Product (GDP) of India? If you type the inquiry into Google now, a graph will immediately display the data ranging from 1960 to 2008 and a figure showing that it is currently $1.22 trillion. If you click on the graph, it will immediately expand and allow you to compare historical figures as well as with that of other countries. I noticed, for instance, that India had a GDP of $36.6 billion in 1960; a 33 fold increase over the last 48 years!

The popular search engine has joined forces with the World Bank in sharing development data through the Data Finder, featuring 17 development indicators based on information provided by the World Bank to make the easy to understand information accessible to a broader audience. The public data tool is exceptionally easy to use and is excellent for comparative research or exploration of data over time. The indicators are as diverse as carbon dioxide emissions, fertility rates, GDP growth, and number of internet users.

Gross Domestic Product Not Sole Indicator of Progress

Joe Qian's picture

What is Happiness? Many of us equate it with money. However, since 1972, the kingdom of Bhutan under the leadership of its former King, Jigme Singye Wangchuck has measured its developmental success not solely through the economic lens of Gross Domestic Product (GDP) but also through a more complete approach known as Gross National Happiness (GNH). Its laurels were based upon the original four pillars of sustainable development, preservation and promotion of cultural values, conservation of the natural environment, and good governance.

These indicators have become increasingly important over the last three decades as it became apparent that blindly pursuing economic expansion has created growing pains in a number of countries. GNH has appeared to be very successful in Bhutan, a nation the size of Switzerland with a population of around 700,000. With initiatives such as maintaining at least 60% (currently 72%) of the land for forests and conservation, while maintaining 165 indigenous mammal species such as the rare snow leopard, Bhutan also has a fast growing economy.

Government spending on health and education is the highest in the region at 18% and Bhutan boasts a GDP growth rate of 21.4% and a per capita income level that is almost twice as much as much as India’s, although it was much poorer as recently as the 1980’s. Independent sources also seem to echo these sentiments as Business Week magazine rated Bhutan the world’s 8th happiest country.

Remittances in Bangladesh: Determinants and 2010 Outlook

Zahid Hussain's picture

Co-authored with FARRIA NAEEM

Remittances have emerged as a key driver of economic growth and poverty reduction in Bangladesh, increasing at an average annual rate of 19 percent in the last 30 years (1979-2008).

Revenues from remittances now exceed various types of foreign exchange inflows, particularly official development assistance and net earnings from exports. The bulk of the remittances are sent by Bangladeshi migrant workers rather than members of the Bangladeshi Diaspora. Currently, 64 percent of annual remittance inflows originate from Middle Eastern nations.

Robust remittance inflows in recent years (annual average growth of 27 percent in FY06-FY08) have been instrumental in maintaining the current account surplus despite widening a trade deficit. This in turn has enabled Bangladesh to maintain a growing level of foreign exchange reserves.