Macroeconomic Exploration Project

Hong Kong, Brazil, Spain, Morocco

by- Uma, Giselle, Nadia, Amogh, and Whitney

Real GDP and population

Real GDP for 1990 and the population for that year

  • Spain

    • GDP: $ 520.400,000,000

    • Population: 38,836,000

  • Hong Kong

    • GDP: $76,928,290,841.9

    • Population: 5,674,114

  • Morocco

    • GDP: 310,831,586,793

    • Population: 24,675,365

  • Brazil

    • GDP: 461,951,782,000

    • Population: 146,917,459


Real GDP for 2000 and population

  • Spain

    • GDP: $ 582,000,000,000

    • Population: 40,263,000

  • Hong Kong

    • GDP: $171,668,164,082.6

    • Population:6,708,389

  • Morocco

    • GDP: 392,574,000,000

    • Population: 28,710,469

  • Brazil

    • GDP: 644,701,831,101

    • Population: 169,544,443


Real GDP for 2010 and population

  • Spain

    • GDP: 1,387,400,000,000

    • Population: 46,018,000

  • Hong Kong

    • GDP: $228,637,697,575.0

    • Population: 7,071,576

  • Morocco

    • GDP: 635,063,000,000.0

    • Population: 31,642,541

  • Brazil

    • GDP: 2,143,067,871,760

    • Population: 192,755,799
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GDP per Capita


    • Spain

      • 1990

        • $13,399.94

      • 2000

        • $14,454.96

      • 2010

        • $ 30,149.07

    • Hong Kong

      • 1990

        • $13,557.8

      • 2000

        • $25,590.1

      • 2010

        • $32,331.9

    • Morocco

      • 1990

        • $1,259.68

      • 2000

        • $1,367.36

      • 2010

        • $2,006.99

    • Brazil

      • 1990

        • $3,144.29

      • 2000

        • $3,802.55

      • 2010

        • $11,118.04

Categorization

Spain's current GDP per capita: 29,117.64 USD (2013), therefore it is characterized as a MDC, high income (barely).

Hong Kong’s current GDP per capita is 38,123.52 USD, therefore it is characterized as a high income.

Morocco's GDP per capita in 2013 is 3,314 USD, therefore it is characterized as a lower middle income.

Brazil's Current GDP per capita is 11,118.04, therefore it is characterized as a upper middle income.

Growth Rate using GDP per Capita

Spain

  • 1990-2000

    • 7.9%

  • 2000-2010

    • 108.6%

Hong Kong:

  • 1990-2000

    • 103.78%

  • 2000-2010

    • 26.34%


Morocco

  • 1990-2000

    • 8.55%

  • 2000-2010

    • 46.78%


Brazil:

  • 1990-2000

    • 5.9%

  • 2000-2010

    • 102.56%

Characteristics of Economic Development

4 characteristics

  1. Life expectancy

  2. Literacy rate

  3. Population growth

  4. Unemployment


Spain

  1. 81.47 years (2014)

  2. 98% (2012)

  3. -0.2% (2013)

  4. 24.4% (August 2014)


Hong Kong

  1. 83.48 years (2012)

  2. 93.5% (2014)

  3. 0.41% (2014)

  4. 3.1% (2013)


Morocco

  1. 76.51 years (2014 estimate)

  2. 67% (2011)

  3. 1.5% (2013)

  4. 9.5% (2013)


Brazil

  1. 73.62 years (2012)

  2. 91%(2012)

  3. .9%(2013)

  4. 4.9%(2014)

Preconceptions: did anything surprise you?

Morocco is a lower middle income country, while Brazil is an upper middle income country, but Morocco's life expectancy of 76.51 is slightly higher than that of Brazil, 73.62. Spain's unemployment rate of 24.4% is very high for its income status, due to the economic struggles the country is currently undergoing.

Patterns: does the data "fit" the categories the countries fall in to?

The two MDCs, Spain and Hong Kong, had much higher life expectancies and literacy rates than Morocco and Brazil. Morocco, which had by far the lowest GDP per capita, had the highest growth rates and second highest unemployment. Spain’s unemployment is very high, but that is a recent trend due to the poor state of the economy, and does not reflect the overall status of the country as an MDC.

Comparisons: what assumptions can you make and support when comparing GDP per capita?

When the GDP per capita of a specific country is much lower than that of the other countries, we can assume that the country with the lower GDP is an LDC.

What do you not know when making comparisons?

  • Doesn't measure non-market goods (informal markets).
  • Doesn't look at improvements of services and goods.
  • Doesn't look at life expectancy.
  • Doesn't include negative externalities.
  • No information about the distribution of income.
  • Doesn't take into account leisure time or quality life factors.
  • Can be distorted due to domestic price levels.