6. Key Takeaways
- Human well-being is difficult to define and measure. GDP per capita is a reliable albeit imperfect measure of well-being.
- Real GDP can be used to compare a country’s economic performance over time. An increase in a country’s real GDP indicates that the quantity of goods and services the economy produces is expanding.
- The standard of living of the average person in a country is rising if the country’s real GDP per capita increases.
- Real GDP per capita growth measures changes in the average standard of living.
- While not an SDG by itself, microinsurance is an aspect of financial inclusion, which is hoped to become a lever for achieving SDGs such as SDG 1, SDG 2, SDG 3, SDG 5, SDG 8, SDG 9, SDG 10, and SDG 17.
- Microinsurance can impact economic growth indirectly through its effects on the accumulation of technological knowledge, physical and human capital.
