Gdp & hdi

GDP - HDI
Historical evolution and its most important causes in some Eurozone countries and other representative ones of the world

Economic Policy

Chaparro Salas, Antonio Hidalgo Cerezo, Francisco Pérez del Villar Cuesta, Rodrigo Rodríguez Osuna, Luis Manuel Política Económica Facultad de Derecho y CC.EE. y Empresariales

CONTENTS
PART I: INTRODUCTION 3

PART II: EVOLUTION OF GROSSDOMESTIC PRODUCT (GDP)
1. Some Eurozone countries a) Finland b) France c) Germany d) Greece e) Italy f) Spain 2. Other representative countries a) United Kingdom b) United States c) Cuba d) Mexico e) Saudi Arabia f) India e) China

4 4 4 5 5 6 7 7 8 8 9 10 10 10 11 11

PART III: EVOLUTION OF HUMAN DEVELOPMENT INDEX (HDI)
1. A global outlook 2. Some Eurozone countries 3. Other representativecountries

12 12 13 14

PART IV: CONCLUSIONS

16

PART V: BIBLIOGRAPHY

17

2

PART I: INTRODUCTION
Through the following pages, we make an analysis of two macroeconomic variables which reflect the development of any country from two different points of view, one just under economic parameters and the other with a social perspective too: the Gross Domestic Product (GDP) and theHuman Development Index (HDI), respectively. The former will be explained over its evolution from 2005 to 2009, on the one hand, in some Eurozone countries such as Finland, France, Germany, Greece, Italy and Spain, and on the other hand, in other representative countries such as United Kingdom, United States, Cuba, Mexico, Saudi Arabia, India and China. The latter will be analyzed over its evolutionfrom 1995 to 2007, starting with a global outlook and then focusing on those countries. Everything supported by graphs, maps and tables which show easily the correlation between these countries and those two variables. The main objective of this piece of work is not only to explain the data and the reasons of their evolution, but show the huge gap between developed and developing countries in theirincomes, the great growth of these last ones, and the European Union integration in relation to its domestic benefits. Even, we can realize the impact of the current economic and financial crisis just watching the data of 2009. Finally, we summarize all the conclusions and most important points in the Part IV, explaining our perspective about this topic in relation to the economic circumstancesthat the data show. Moreover, at the end of this piece of work, in the Bibliography, it is possible to check the sources of information which we used. Furthermore, there are many footnotes which you can check when the corresponding number appears.

3

PART II: EVOLUTION OF GROSS DOMESTIC PRODUCT (GDP)
1. Some Eurozone countries: Finland, France, Germany, Greece, Italy and Spain
Through thenext bar chart, we are going to analyze the historical variation of GDP in some of the biggest European countries within the Eurozone. This way, we will check the damage caused by the current financial and economic crisis, which made an explosion in the 2009 GDP of these countries. Chart 1

Historical variation of GDP of some Eurozone countries
6 4

Percentage of GDP

2

0
-2 -4 -6 -82005
3,28 1,72 1,1 3,66 0,11 3,43

2006
4,85 2,2 2,99 4,19 1,84 3,86

2007
4,2 2,26 2,58 4,04 1,46 3,66

2008
0,92 0,33 0,95 2,93 -1,04 1,16

2009
-6,57 -3,05 -5,96 -1,45 -5,22 -4,21

Finland

France
Germany Greece Italy Spain

Source: International Financial Statistics of the IMF

a) Finland
Finland has a highly industrialized, largely free-market economy with per capitaoutput roughly that of Austria, Belgium, the Netherlands, and Sweden. Trade is important with exports accounting for over one third of GDP in recent years. This country is strongly competitive in manufacturing, principally the wood, metals, engineering, telecommunications, and electronics industries. It excels in high-tech exports such as mobile phones. Finland had been one of the best performing...