Development Flashcards
ODA
Overseas Development Assistance, loans from one state to another
Resource Curse
countries with an abundance of natural resources having less economic growth, less democracy, or worse development outcomes than countries with fewer natural resources
Microcredit/Microfinancing
small loans, but no collateral, given in small groups, won’t get paid back
MDGs/SDGs
Sustainable Development Goals, about use of capital accumulation, list of goals like ending poverty etc
Export-Led Growth
country seeking economic development by opening up to international trade
Dependency theory
resources flow form periphery (poor) countries to core countries (wealthy)
Brain drain
loss of skilled workers from a country
Foreign Direct Investment
private investment-project based, can be a tool of foreign policy by investing in things that will interest states/governments
Remittances
money sent back home from workers abroad
SAPs/IMF Conditionality
borrowing countries introduce broadly free-market systems coupled with fiscal restraint, sometimes austerity measures, things like devaluing their currencies to reduce balance of payments deficits; cutting public sector employment, subsidies, and other spending to
reduce budget deficits; privatizing state-owned enterprises; and easing regulations in order to attract
investment by foreign businesses.
Moral Hazard
actor or government takes risk because they do not bear full costs of risk
Periphery
less developed than semi periphery
Economic Developement
capital accumulation, rising per capita income, falling birthrates, skilled population, adopted of new technology, social progress
GDP/capita
measures wealth in country “per person”, doesn’t show distribution of wealth
GINI coefficient
shows distribution of income inequality
