COMPARATIVE ANALYSIS OF GDP AND FINANCIAL SERVICES: AN ECONOMIC ASSESSMENT OF 206 COUNTRIES

Abstract

This study aims to analyze the relationship between GDP Current LCU, GDP Constant LCU, and GDP Per Capita Current LCU to assess economic performance across two-hundred-six countries in 2022. Employing a quantitative design, the research utilizes secondary data from global financial institutions. Methodologically, statistical analyses, including Grey Relational Analysis, are applied to compare GDP metrics, emphasizing the significance of inflation adjustment and per capita calculation. The dataset is sourced from the World Bank Indicator website, ensuring credibility and accuracy. The results reveal substantial variations in economic growth patterns when different GDP measures are considered. This study offers originality by integrating classical and modern economic theories to enhance GDP analysis. Its innovative approach provides a nuanced understanding of GDP beyond traditional measures. The findings have significant implications for policymakers, economists, and researchers in evaluating economic stability, development, and comparative financial performance across nations. Moreover, this research highlights the necessity of using multiple GDP indicators for more accurate economic assessment. It also underscores the importance of inflation-adjusted measures in policymaking and economic forecasting. Future studies can build on these findings by incorporating sector-specific GDP trends and long-term economic projections.