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Does Per Capita GDP Matter?

Does Per Capita GDP Matter?

There are various ways of measuring the level of a country’s development.  Choosing the right methodology for quantifying economic status is critical for thinking about the problem of poverty effectively.  On a macroeconomic level, the most common indicator is per capita GDP.  But I am not sure if per capita GDP is really a good measuring stick for the relative prosperity of a country. This thinking stemmed from a conversation I had this afternoon over lunch comparing Ghana, where I…

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Natural Gas in Papua New Guinea and Oil in Ghana

Natural Gas in Papua New Guinea and Oil in Ghana

This is from the New York Times the other day: In 2014, ExxonMobil is scheduled to start shipping natural gas through a 450-mile pipeline, then on to Japan, China and other markets in East Asia. But the flood of revenue, which is expected to bring Papua New Guinea $30 billion over three decades and to more than double its gross domestic product, will force a country already beset by state corruption and bedeviled by a complex land tenure system to grapple…

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