2. The 2002 World Development Report provides the following information for Colo

Q: 2. The 2002 World Development Report provides the following information for Colo

1) The last four coloumns measures: B) There are numerous factors that these measures tends to ignore including longevity of life, deprivation in two vital aspects of human life which are, education and standard of living.

ID: 1204765 • Letter: 2

Question

2. The 2002 World Development Report provides the following information for Colombia and Thailand:

Per Capita
GDP ($)

Per Capita
GDP
(PPP $)

Population
below National
Poverty Line
(%)

Population
below
$1 Day PPP
(%)

Poverty
Gap at
$1 Day
PPP (%)

Gini
Index

Colombia

2080

5890

17.7

11.0

3.2

57.1

Thailand

2010

6330

13.1

<0.5

41.4

(a) Explain carefully what each of the entries in the final four columns of this table measures. What concepts are being presented and what is their importance to economic development? (4 points , 1 for explaining each)

(b) The table above shows that Colombia and Thailand are roughly at the same level of economic development as measured by the level per capita national income. Their performance in terms of poverty indicators is quite different. What factors may contribute to their differing performance? (3 points)