The 2002 World Development Report provides the following information for Colombia and Thailand:
Data is given in the attached file.
(a) Explain carefully what each of the entries in the final four columns of this table measures. What concepts are being presented and what is their importance to economic development?
(b) The table above shows that Colombia and Thailand are roughly at the same level of economic development as measured by the level per capita national income. Their performance in terms of poverty indicators is quite different. What factors may contribute to their differing performance?