Consider then what a typical GDP-enhancing investment would look like: a foreign entity sets up shop, enjoys cheap labour and limited environmental regulation, and extracts African natural resources to produce something.
All this has a direct impact on economic growth: an extra ten phones per 100 people in a typical developing country boosts GDP growth by 0.8 percentage points, according to the World Bank.
Research suggests that the usage of an extra ten phones per 100 people in a typical developing country boosts GDP growth by 0.8 percentage points (Bhavnani et al. 2008).
The fact that China has 1.3 billion people, though, means that GDP per head – a typical measure of individual wealth – remains well behind leading economies.
America's current-account deficit was much larger, relative to GDP, than in a typical crisis candidate.Given such ominous indications, what of the aftermath?
One study shows that adding ten mobile phones per 100 people in a typical developing country boosts growth in GDP per person by 0.8 percentage points.Mr Eagle hopes txteagle will do its bit by mobile "crowdsourcing"—breaking down jobs into small tasks and sending them to lots of individuals.
Officially, 9% of GDP should be invested in it (a typical rate for India's roaring rival, China), with $500 billion supposedly earmarked for it in the five years to 2012 and in the following five years, to 2017, a whopping $1 trillion.
S&P calculates that a typical country's deficit would rise to over 4% of GDP by the mid-2020s.
In a much-cited study in 2005, for example, Leonard Waverman of the London Business School found that an extra ten mobile phones per 100 people in a typical developing country added 0.6 percentage points of growth in GDP per person.
(Studies have found that in a typical developing country, an increase in mobile penetration of 10% boosts GDP growth by around one percentage point).Whether or not finance ministers are not convinced by such calculations, operators seem to be.
A typical patrol lasted a month.
