COMPARATIVE ANALYSIS OF WORLD OUTPUT WITH REAL GDP FROM ADVANCED TO DEVELOPING COUNTRIES

Abstract

The main objectives of this paper are to test whether there is any significant difference regarding median growth rate, world output and per capita output and also examine the relationship between each other along with a suitable suggestion to ameliorate the world output. The data collected from the world economic outlook of International Monetary Fund of October 2015 of PP: 168. The SPSS 16.0 versions was applied to derive the results through the paired samples statistics, paired sample correlations and paired samples tests. The study found that world output in terms of annual percentage was higher regarding low income developing countries followed by the emerging market and developing economies and the advanced economies and also identified that statistically there was a significant difference between each other except emerging market and developing economies to the low income developing countries. The higher median growth rate had taken place regarding low income developing countries followed by the emerging market and developing economies and advanced economies and statistically there was a significant difference between each other. The study also observed that per capita of output was higher regarding the emerging market and developing economies followed by the low income developing countries and advanced economies and also found that statistically there was a significant difference between each other except emerging market and developing economies to the low income developing countries. It is suggested that world output as well as per capita of output should be increased and maintain equality amongst the countries by taking the necessary steps