Degree of development

In relation to an economy, the degree to which the population is supplied with goods. This is measured – on the one hand – and in the past almost exclusively – by income per capita and – more recently with great weight – also by the degree of literacy, the number of professionally and/or academically educated inhabitants, the conditions in the health sector and some other characteristics. A separate UN-designed measure, the Human Development Index (HDI), is now used for comparative purposes between individual economies. – In the financial sector, the number of banks in total or in relation to the population is often chosen as a measure; however, this indicator is not very meaningful.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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