Advanced Economies


DEFINITION of 'Advanced Economies'

A term used by the International Monetary Fund to describe developed countries. While there is no established numerical convention to determine whether an economy is advanced or not, advanced economies have a high level of gross domestic product per capita, as well as a very significant degree of industrialization.

BREAKING DOWN 'Advanced Economies'

Another metric commonly used to identify advanced economies is the Human Development Index, which combines multiple factors to measure a country's status. As of 2010 the IMF classified 34 nations as advanced economies. These include the United States and Canada in North America, most nations in Europe, Japan and the Asian tigers, as well as Australia and New Zealand.

  1. Gross Domestic Product - GDP

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  2. International Monetary Fund - IMF

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  4. Developed Economy

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  5. Per Capita Gross Domestic Product

    Per capita GDP is a measure of the total output of a country ...
  6. Emerging Market Economy

    A nation's economy that is progressing toward becoming advanced, ...
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  1. Is Colombia an emerging market economy?

    Colombia meets the criteria of an emerging market economy. The South American country has a much lower gross domestic product, ... Read Full Answer >>
  2. Is Mexico an emerging market economy?

    Mexico meets all the criteria of an emerging market economy. The country's gross domestic product, or GDP, per capita beats ... Read Full Answer >>
  3. Is Argentina a developed country?

    Argentina is not a developed country. It has one of the strongest economies in South America or Central America and ranks ... Read Full Answer >>
  4. Is Brazil a developed country?

    Brazil is not a developed country. Though it has the largest economy in South America or Central America, Brazil is still ... Read Full Answer >>
  5. Are Social Security payments included in the US GDP calculation?

    Social Security payments are not included in the U.S. definition of the gross domestic product (GDP). Transfer Payments For ... Read Full Answer >>
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