changing economic world - nigeria (p2) Flashcards
what is GDP
the total value of goods and services produced by a country in one year
what is migration
the movement of people from one permanent home to another, with the intention of staying at least a year
what is a TNC
initial investment and jobs lead to a knock on effect. This knock on effect creates more jobs and money which are then reinvested
what is industrial structure
the relative proportion of the workforce employed in different sectors of then economy
development
the progress of a country in terms of economic growth, the use of technology and human welfare
what is development gap
the difference in standards of living and wellbeing between the world’s richest and poorest countries
what is GNI
measurement of economic activity that is calculated by dividing the gross national income by the size of population
what is the human development index
a method of measuring development in which GDP per capita, life expectancy are combined to give an overview using social and economic indicators
what are the MINT and BRIC countries
M - Mexico B - Brazil
I - Indonesia R- Russia
N - Nigeria I - India
T - Turkey C - China
why are the MINT and BRIC countries grouped together
group of fast developing countries
how measure development
GNI, literacy rate, access to healthcare, death/birth rate
GNI - economic indicators
limitations: only one factor
not always honest
informal sector not taken into account
brith rate - social indicators
generally high birth rates associated with poor countries
limitations: some countries may have low birth rates and are poor
death rate - social indicators
lowest death rates in NEEs
limitations: death rate is less reliable than birth rate
infant mortality- social indicator
highest values in African countries
limitations: not all the deaths of children are reported
life expectancy - social indicator
HIC average is likely over 80 years, NEE is 65-75, LIC is in the 50s
limitations: data is not reliable
literacy rate - social indicator
measures provision of education
limitations: lack of monitoring in LICs
what is top down aid
large scale - e.g. the world bank provides $560mill for irrigation and drainage schemes
what is bottom up aid
small scale - e.g. oxfam help small farmers to improve productivity.
however lack of cohesion with government
what is emergency aid
short term - e.g. 2017 2 UN agencies helped people stuck in conflict between Boko Haram and government
what is development aid
long term - e.g. 2016 Uk gov gave £305mill aid to help towards MDGs (millenium development goals)
what is bilateral aid
assistance given by a government directly to the government of another country
what is conditional or tied aid
money that a rich country lends to a poor country, on condition that the poor country spends the money on goods from the rich country
7 ways to reduce the development gap
aid, investment, tourism, intermediate technology, fair trade, debt relief, microfinance loans
how does aid work
can help if spent on projects such as schools and health clinics but can be mis-spent and encourage dependency
how does investment work
can improve technology and infrastructure but is easily
withdrawn by foreign investors
how does tourism work
generates increased income but much of the money is lost in leakage
how does fairtrade work
simple and effective at a ‘grassroots’ level but
can be limited in scale
how does debt relief work
frees money to be spent on development projects but relies on goodwill of HICs
how do microfinance loans work
allow financial independence, especially for women but scale and impact remain small
