advanced economy

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‘A term used by the International Monetary FUND (IMF) for the top group in its hierarchy: advanced economies, countries in transition, and developing countries. It includes: Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Iceland, Ireland, Israel, Italy, Japan, South Korea, Luxembourg, Netherlands, NZ, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, Taiwan, UK, and USA’ (CIA (2007) World Factbook, appendix B). The IMF also includes Cyprus and Slovenia (IMF (2007) WEO Groups & Aggregates Info.).

Subjects: Earth Sciences and Geography.

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