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Related Flashcards
Cards In This Set
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Social challenges to economic development
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O Too rapid population growth
o Low levels of education
Ø Brain-drain
o Poor diet and health—chronic persistent hunger
o Poor infrastructure (sanitation/housing)
o Rural to urban migration
o Female inequality (education/health/role in economy)
o Lack of sufficient and accurate data for planning
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Brain drain
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People are trained abroad and never go back to their original country—high technical skills from a developing country who end up staying in the developed country
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Economic challenges to development
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O Poor transportation networks
o Low and unreliable electrical power
o Source of capitalØ Foreign or domestic? Ø Public or private?o Poor match of resources and development plans
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Foreign vs domestic source of capital
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Domestic: do people save their money and put it in a
financial institution where the government can tap and it can be used for
development?Foreign: World Bank, IMF, UN, DEBT
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Public vs private source of capital
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Private: philanthropic ventures (Gates foundation) Public: Foreign aid in addition to Global financial
agencies
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Poor matches of resources and development plans
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Ø Private philanthropists from Canada went to parts of
East Africa and tried to show them better wheat cultivation
§ East African soil is volcanic and erodes when
disturbed; Canadian soil is organic
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Political challenges to development
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O Unstable (uncertainty for investment)
o Military expendituresØ CNN report: African wars cost billions; $300 billion lost between 98-05
o Corruptiono Debt
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Gross National Product per capita
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Total value of goods and services produced by a
country’s economy, within and without; based on citizenship of owners not
territory where produced
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Gross National Product per capita
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Value of the total output of goods and services
produced by a country; GDP/total population
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Purchasing Power Parity (PPP)
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What money will actually buy in each country
(relative costs of goods)
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Human Development Index (HDI)
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Measurement of economic
and social development
· -Health (life
expectancy)
· - Education (years
of schooling and literacy rate)
· - Living standards
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Gender Development Index (GDI)
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Compares the level of standard of living of
women w/ that of both sexes in terms of income, literacy, and life expectancy
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Gender Empowerment Measure (GEM)
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Compares ability of men
and women to participate in economic and political decision-making; high-paying
positions and access to professional and parliamentary positions
· -Growing force in
developing world
· -Already fairly
common in Europe
· -Women in Rwanda
b/c men left after genocide
· -Two African
women presidents and won Nobel Peace Prize
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Development through international trade
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Concentrating resources on the expansion of its distinctive local industriesRostow's stages: traditional society, preconditions for takeoff, takeoff, drive to maturity, age of mass consumption, post-industrial era
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Traditional society
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O Subsistence agriculture or hunting/gathering
o Limited technology
o Rigid society: no mobility w/ fluidity upwards
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