Term
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Definition
| process of improving quality of all human life and capabilities |
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Term
| How do we promote development? |
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Definition
Raising levels of living
Raising self esteem
Freedom |
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Term
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Definition
| study of how economies get transformed from stagnation to growth |
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Term
| Core values of development |
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Definition
Sustenance
Self esteem
Freedom |
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Definition
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Term
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Definition
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Definition
Ability to choose
freedom from servitude |
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Term
| Key facts to remember with Development econ |
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Definition
1. efficient allocation
2. sustained growth and development |
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Term
| How to allocate scarce resources |
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Definition
social mechanisms
institutional mechanisms
political mechanisms |
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Term
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Definition
How does international growth occur?
What causes abject poverty?
Is population growth a good or bad thing?
Why is there so much unemployment?
How can health and education push economic growth?
How does debt play into suffering? |
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Term
| Key Objectives of Development |
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Definition
1. Give all people the basics
2. Improve economic welfare
3. expand social and economic choice |
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Term
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Definition
| principles, standards, or qualities that a society considers important |
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Term
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Definition
organization and institutional structure of a society
Society contains: power structure, values, traditions, attitudes, feelings of a group about an issue |
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Definition
| like respect, work, social class (India would be an example) |
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Term
| Terms to label countries based on development |
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Definition
Don't really use traditional
Developed vs developing
Low/low middle/high middle/ high income |
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Term
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Definition
More developed countries
Advanced countries
Industrial countries
Post industrial |
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Term
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Definition
Less developed countries
Newly industrial countries (Asian Tigers: S. Korea, Singapore, Taiwan, and Hong Kong) - should be developed by now though |
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Term
| World Bank Classifications |
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Definition
| Low income, low middle, high middle, high |
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Term
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Definition
less than $1,025
many African countries
Haiti
Cambodia
North Korea |
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Term
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Definition
Between 1,026 and 4,035
Cameroon , Sudan, India, Albania |
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Term
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Definition
4,036-12,475
China, Brazil, Latin American Countries, Botswana, South Africa |
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Term
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Definition
>12,476
Western Europe, Trinidad and Tobego, Equatorial Guinea, Qatar, Kuwait, UAE |
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Definition
Is not development
is a necessary and sufficient quality for countries |
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Term
GDP
GNP
GDP per capita
GDP per worker |
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Definition
Gross Domestic Product
Gross National Product
all measure growth but are not perfect |
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Term
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Definition
1. underreporting of income and output in developing countries - hard to tax people (like people in markets)
2. self consumption - focus on agrarian societies, can't remember how much people consume
3. prices - we underestimate their income (use Purchase Power Parity)
4. Underground economy
5. ignoring cost of externalities |
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Term
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Definition
PPP, how we deal with problem of exchange rates, adjustment of gap with goods
like India 1,040 with GNI per capita vs 2,930 with GDP per capita |
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Term
| How do we measure development? |
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Definition
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Term
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Definition
UNDP
1990-2010
0-1 scale
longevity, standard of living, and knowledge
(life^(1/3) * education^(1/3) * income^(1/3))
still not a perfect measure
sometimes disparities between income and life expectancy |
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Term
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Definition
life expectancies
minimum is 20 |
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Term
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Definition
mean years of schooling
expected years of schooling |
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Term
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Definition
GNI Index
(actual-minimum)/(max-min) |
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Term
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Definition
Western Europe, US, Qatar, UAE
.785-1 |
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Term
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Definition
Latin American, Turkey, Eastern Europe
.670-.784 |
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Term
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Definition
.488-.669
India, Iraq, Ghana, China, Botswana, South Africa |
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Term
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Definition
0-.487
Chad, Niger, Haiti, Afghanistan, Bangladesh |
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Term
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Definition
account inequality in all measures like with gender or race/region
like Northern Brazil compared to Southern Brazil (.5 vs .838) |
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Term
| Structural diversity of developing countries |
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Definition
1. size
2. background
3. endowments
4. social composition
5. importance of public/private sector
6. industrialization |
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Term
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Definition
large pop vs small pop
Large examples are Brazil, Nigeria, Pakistan, and Indonesia
Small examples are Haiti, Nauru, Tuvalu |
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Term
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Definition
colonization
French - Niger, Cote d'luaire, Togo, Benin, Cameroon
British - Nigeria, Kenya, India, and South Africa
Belgium - Congo
Portugal - Mozambique and Angola |
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Term
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Definition
rich vs poor (Haiti and Bangladesh)
concerning resources
Botswana now Chad, Equatorial Guinea, Nigeria |
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Term
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Definition
ethnic fractionalization (Tanzania (highest), India, Congo, Cameroon, Nigeria)
religious fractionalization - controversial, in Japan low |
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Term
| Importance of private and public sectors |
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Definition
| China - HUGE emphasis on private |
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Term
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Definition
primary, secondary, tertiary
Indonesia |
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Term
| What makes developing countries similar? |
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Definition
low levels of living
rapid rural-urban migration (push vs pull)
low levels of productivity (lack of opportunities)
demographics (population growth)
production and occupational structure
imperfect markets and incomplete info
international trade, dependent, and vulnerable (issues with agriculture) |
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Term
| How LDC differ from DC in earlier stages |
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Definition
endowment
income
climate
population size
migration
international trade benefit
basic science and tech
stability and flexibility of political and social institutions |
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Term
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Definition
| differences in capital, like human capital - physical and human resources much higher |
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Term
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Definition
| if we don't help, then they won't catch up |
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Term
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Definition
| many LDC close to equator, very hot there |
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Term
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Definition
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Term
| Millenium Development Goals |
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Definition
Eradicate extreme poverty and hunger
Achieve universal primary education
Promote gender equality and empower women
Reduce child mortality
Improve maternal health
Combat HIV/AIDS, malaria, and other diseases
Ensure environmental sustainability
Develop global partnership for development |
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