Chapter 9 Flashcards
Development
The process of material institutional and human progress in a particular country or region
Climate change
The warming and cooling of the earths temperature in cycles over centuries
East Asian miracle
A period of unprecedented economic growth and development in east Asia between 1965-2010
Land reform
Domestic policies to redistribute land for the purposes of equality and development
Crony capitalism
No competitive lending and investment relationships between government finance institutions and private industry
Micro-financing
The provision of small loans to individuals especially women in developing countries
Asian values
The Confucian ideas emphasizing authority over individualism that motivated economic success in Asia
Lost dexade
A period of economic stagnation in Latin America brought on by domestic policies the oil crises and high debt lasting from the early 1970s to the late 1989s
Financial repression
A policy in which states extract savings from one sector such as agriculture or labor to benefit another sector such as industry
Rent seekers
Firms that lobby to limit competition extracting monopoly rents by producing at low costs while selling at high prices
Capital flight
The movement of money out of the local currency and country because of inflation and economic or political instability
Informal sector
Business activities that take place outside the legal system of a country because of excessive regulations
Ejido system
Mexican land reform project that redistributed some lend to peasants
Basic human needs
Necessities such as clothing shelter food education and health care
Paternalism
A system in which institutions such as the church or state provided for the needs of individuals or groups while stifling individual injtitave and entrepreneurship
Brain drain
The emigration of educated people from developing countries
Millennium development goals
UN program initiated 1996 to achieve ambitious development objectives by 2025
Official development assistance (ODA)
Aid from advanced governments to developing nations
Concessional loans
Loans made to developing nations at subsidized internet rates
Debt relief
The rescheduling of loans to developing nations to stretch the loans over longer periods of time or the forgiving of the loans altogether
Demographic transition
✔️
Periods of accelerating population growth as living standards increase because death rates decline faster than birth rates
Youth bulge
✔️
A demographic pattern in which a SUBSTANTIAL % of the population in a given country is young typically below the age of 15
Graying population
✔️
A demographic pattern in which the % of a country’s population older than 65 increases
Fossil fuels
✔️
Coal oil and natural gas
Biodiversity
✔️
The diversity among the multiple Species of plant and animal life found in nature
acid rain
✔️
Condensation borne pollutants that may be transported though the upper atmosphere over long distances
Ozone layer
✔️
The outer layer of the earths atmosphere that protects the plant from dollar radiation
Global warming
✔️
The heating up of earths atmosphere caused by greenhouse gas emissions
Montreal protocol
✔️
An international agreement reached in 1987 that set the specific goal of reducing the use of chlorofluorocarbons by 50% by 1998
