The World Economic Growth Ranking is a methodology which ranks the nations of the world on a scale from developed to developing. It was founded in 1990 by the Conference on Industrial Cooperation (CARICOM). In the methodology used, the highest rated nation would be given the highest weight and the lowest ranked nation would be given the lowest weight. This ranking system has served mankind well and is still in use today, although there are many more statistical calculating techniques that can be used.
There are many other methods also used such as the Purchasing Power Parity (PPP) for determining the economic development in a country. The Purchasing Power Parity measures the difference between the value of exportable goods of a nation and that of its imports. Another widely used measure for measuring development is Gross Domestic Product (GDP). A nation's GDP is a statistical representation of the wealth of a nation based on the value of all the products that are produced within the nation. These are some of the statistical methods used for World Economic Growth Ranking.
Rankings are given for many different reasons. The most common reason is business development. Companies want to be at the top of the lists so they can have access to the best prices and the most customers. Rankings allow companies to access these markets more readily and compete with other companies that do not feature higher on the lists. For instance, a developing nation might feature higher rankings due to the fact that it has access to cheap labor and inexpensive technology.
The World Economic Growth Ranking rankings are also used for international political considerations. Countries that are struggling with political crisis will often feature lower economic growth due to their inability to continue to provide political stability. In periods of political turmoil, the infrastructure of a nation often takes a beating and in turn GDP growth slows down considerably. For example, during the Iraq War, the United States and other coalition forces kept the oil flowing and allowed markets to remain open in Iraq.
As well as the world economic growth ranking, there are many different factors that go into determining a country's economic health. One of the things that are looked at closely are the interest rates a country's currency has. If a country has high interest rates, then it is considered to have poor economic growth. Countries that have low interest rates often struggle to maintain high growth rates and get a lot of new customers. This means that if your currency has a high interest rate, you might want to consider investing some money in your home country in order to raise your wealth index and keep your money tied up in your home.
Another way that the World Economic Growth Ranking is determined is based on certain criteria. One such criterion is gross domestic product. GDP is the most important part of any economic system because it determines the overall health of the nation's economy. Other things that are looked at are inflation, government spending, population aging, foreign trade, technology and much more.
All these things take place in each country individually and are subject to changes in each economy depending on the state of the nation's economy. The best thing that anyone can do is look at all of these different economies and see which ones seem to be performing . . . . . . at an acceptable level. After looking at all of the nations, the World Economic Growth Ranking will come out. The top countries in the world will be at the top.
If you want to invest some money into your own economy, the best way to do so is by taking a look at the economic growth ranking of the various countries. If you want a chance to increase your wealth, the best thing that you can do is invest in other people's economies. That is what the World Economic Growth Ranking is all about. With the help of a little research, you can make a difference in other people's lives and in return, you can make some money on the side. You can easily find out how high you can rise through the World Economic Growth Ranking.