4.3 emerging + developing economies Flashcards
world bank say what
providance financial or otherwise assistance to developing countries eg. knowledge
IMF say what
international monetary fund. promote monetary cooperation, economic growth + reducation of poverty
non govt developmental organisations say what
third sector charities running on goodwill
eg. oxfam, ACORD
market orientated strategies rely on
the market finding its allocative effiency through market forces
pros of market oriented strategies
little govt interventon
market allocative effiency
more exports
lesser costs
cons of market orientated strategies
high competition
job lossess due to foreign competitors
lower wage rates
interventionist strategies rely on
exammples
govt intervention !!!!
protectionsim managed exchange rates infrastructure development joint ventures with global companies buffer stock schemes developing human capital
explain buffer stock schemes
scheme which buys and stores stocks at times of good harvests to prevent prices falling below a target range (or price level), and releases stocks during bad harvests to prevent prices rising above a target range (or price level)
real world thinking of infrastrucutre development
roads
signal
railways
telecommunications
lewis model of industrialisation
there are two sectors: rural agriculture OR urban industry
industrialisation means moving towards urban indsutry
global help for countries can look like
aid
debt relief
some inward expamples
development of tourism + primary industry
strategies involving other countries & dangers
aid debt relief world bank IMF NGOs
reliant on aid & poor finance discipline
crowding out also a danger
