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Classifications of Countries Basedon their Level of Development

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  • Lynge Nielsen
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    Abstract

    The paper analyzes how the UNDP, the World Bank, and the IMF classify countries based on their level of development. These systems are found lacking in clarity with regard to their underlying rationale. The paper argues that a country classification system based on a transparent, data-driven methodology is preferable to one based on judgment or ad hoc rules. Such an alternative methodology is developed and used to construct classification systems using a variety of proxies for development attainment.

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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24628
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    Bibliographic Info

    Paper provided by International Monetary Fund in its series IMF Working Papers with number 11/31.

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    Length: 45
    Date of creation: 01 Feb 2011
    Date of revision:
    Handle: RePEc:imf:imfwpa:11/31

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    Related research

    Keywords: Developing countries; Developed countries; Development; Emerging markets; International Monetary Fund; UNDP; World Bank; taxonomy; taxonomies; per capita income; balance of payments; exporting countries; cluster analysis; transition countries; income differences; income distribution; annual reports; idiosyncratic shocks; oil exporters; world price; economic outcomes; exchange rate fluctuations; exchange rate movements; external financing; economic cooperation;

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    Cited by:
    1. Yongzheng Yang, 2011. "Global Rebalancing," IMF Working Papers 11/239, International Monetary Fund.
    2. Lynge Nielsen, 2013. "How to Classify Countries Based on Their Level of Development," Social Indicators Research, Springer, vol. 114(3), pages 1087-1107, December.
    3. Ghimire, Narishwar & Woodward, Richard T., 2013. "Under- and over-use of pesticides: An international analysis," Ecological Economics, Elsevier, vol. 89(C), pages 73-81.

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