Developed country

A developed country is a nation that enjoys a relatively high standard of living through a strong high-technology diversified economy. Most countries with a high per capita gross domestic product (GDP) are considered developed countries. Some countries, however, have achieved a (usually temporarily) high GDP through natural resource exploitation (e.g., Nauru through phosphorus extraction) without developing the diverse industrial and service-based economy necessary for "developed" status.

Related Topics:
Standard of living - Gross domestic product - Natural resource - Nauru

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Synonyms include industrialised countries, more economically developed countries (MEDC) and the First World. Other terms sometimes used to describe the developed/developing country dichotomy are first world/third world (the term second world referred to communist states during the Cold War); North/South; and industrialized countries/non-industrialized countries. The term Western countries has a similar meaning, but its connotations restrict its usage, especially in Asia.

Related Topics:
First World - Developing country - Third world - Second world - Communist state - Cold War - North - South - Western countries

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Different observers and theorists often see different reasons for why certain countries (and not others) enjoy a high level of economic development. Many argue that economic development requires some combination of representative government (or democracy), a free market economic model, and a general lack of corruption. Some hold that rich countries grew wealthy by exploitation of poorer countries in the past, through imperialism and colonialism, or in the present, through the process of globalization.

Related Topics:
Economic development - Democracy - Free market - Corruption - Exploitation - Imperialism - Colonialism - Globalization

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According to the United Nations Statistics Division:

Related Topics:
United Nations - Statistics Division

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:In the United Nations system there is no established convention for the designation of "developed" and "developing" countries or areas. In common practice, Japan in Asia, Canada and the United States in North America, Australia and New Zealand in Oceania, and 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; and countries of eastern Europe and the former U.S.S.R. countries in Europe are not included under either developed or developing regions.

Related Topics:
Japan - Asia - Canada - United States - North America - Australia - New Zealand - Oceania - Europe - Southern African Customs Union - Israel - Eastern Europe - U.S.S.R.

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The UN HDI is a statistical measure that gauges a country's level of human development. Countries with an HDI of 0.8 or more -- largely corresponding to what the conventional definition of being a 'developed' country is -- exhibit high development, and those with an HDI between 0.5 and 0.8 (including many of the former Soviet and Eastern Bloc states) exhibit moderate development.

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