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developed countries

This is the top group in the hierarchy of developed countries (DCs), former USSR/Eastern Europe (former USSR/EE), and less developed countries (LDCs). It includes the market-oriented economies of the mainly democratic nations in the Organization for Economic Cooperation and Development (OECD), Bermuda, Israel, South Africa, and the European microstates.

Other names are First World, high-income countries, the North, and industrial countries. They generally have a per capita GDP in excess of $15,000 although four OECD countries and South Africa have figures well under $15,000 and eight of the excluded OPEC countries have figures of more than $20,000.

This is similar to the International Monetary Fund (IMF) term "advanced economies" that includes Hong Kong, South Korea, Singapore, and Taiwan, but excludes Malta, Mexico, South Africa, and Turkey.


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