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.
Car production has rebounded, but to a level well below its typical share of GDP.
Median household income — a better indicator of how well the economy is doing as seen by the typical American than GDP — at last measure was lower than it was a quarter-century ago.
These concepts stem from people's contribution to GDP, typical work time, salary and sometimes health care (compensation and decreased productivity) costs [ 28, 29].
For example, typical estimates of the GDP of East Germany before the old regime collapsed put its real GDP per capita at 70 or 80percentt of the West German level - meaning that East Germany was actually richer than some regions in the West.
Measures the change in living standards and financial prosperity for typical households better than GDP, which has not been a good guide to incomes.
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).
These are the ones they most need to sell, not only because they would raise more money, but also because these essential services have mostly fallen into disrepair in state hands and need investment, professional management and competition to revive them.A typical African country has a GDP of $2 billion-3 billion, equivalent to that of a medium-sized town in a rich country.
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.
The typical financial crisis claims 9% of GDP, and the worst crises, such as those recently afflicting Argentina and Indonesia, wiped out over 20% of GDP, a loss greater even than those endured as a result of the Great Depression.
