Economic Decline Indicator - It considers factors related to economic decline within a country. For example, the Indicator looks at patterns of progressive economic decline of the society as a whole as measured by per capita income, Gross National Product, unemployment rates, inflation, productivity, debt, poverty levels, or business failures. It also takes into account sudden drops in commodity prices, trade revenue, or foreign investment, and any collapse or devaluation of the national currency. The Economic Decline Indicator further considers the responses to economic conditions and their consequences, such as extreme social hardship imposed by economic austerity programs, or perceived increasing group inequalities. The Economic Decline Indicator is focused on the formal economy - as well as illicit trade, including the drug and human trafficking, and capital flight, or levels of corruption and illicit transactions such as money laundering or embezzlement.
Type of variable: Continuous
Last updated by source: 2021-04-01