World Development Indicators

The World Bank publishes the World Development Indicators (WDI) annually. They represent a comprehensive set of data and statistics that allow the evaluation of the development of most countries in the world. In 2004, the World Bank published about 800 different WDI. To be able to assess development strategies, it is useful to have quantitative measures available. The availability of the WDI allows for more informed public and private policy making. In 2000, the Millennium Development Goals (MDG) were agreed upon, and eight major goals in particular were set for the year 2015. The WDI provide data that allow for measurement of progress toward all of these goals. Since these were adopted, the World Bank's publication of the WDI has highlighted the levels of progress made toward these specific targets. Critics might question both the reliability of some of the data and also whether it is possible to quantify all the related concepts, many of which are subjective.

In fact, the term development itself is a contested concept. What we mean by the term is open to debate and interpretation. A rather limited view of development that has dominated the view of many key actors in the past is simply gross national income (GNI) per capita. This can be converted using purchasing power parity to allow simple comparison between countries. However, the growing consensus today appears to be that development should also be about poverty reduction. This consensus was reflected in both the adoption of the MDG and the subsequent United Nations Conference on Financing for Development held in Mexico in March 2002.

The WDI include a broad group of statistics that measure economic development. These include wealth, equality, the levels of external debt, and the degree of integration a country has within the world economy (both in relation to trade and financial flow). They also provide data related to good governance, where good governance is interpreted as creating the right conditions for a market economy to flourish. Here one can compare the availability of basic infrastructure, the suitability of tax policies for attracting investment, and political transparency. The WDI also focus on measures of human development. These include demographic indicators, poverty, education, the status of women, and health. Over recent decades, governments, intergovernmental organizations, and the business sector have also become aware of the direct relationship between development and the limited availability of natural resources. The World Summits on Sustainable Development are evidence of an awareness of this issue. Therefore, the WDI also include measures related to the environment, such as pollution, urbanization levels, and the sustainable use of energy resources.