Development Flashcards
Global North vs Global South
North: characterized by high levels of industrialization, advanced technological development, and high standards of living.
South: lower levels of industrialization, limited technological development, and lower standards of living. They may also face challenges such as poverty, political instability, weak institutions, and environmental degradation.
Feminist Critical Theory
The idea that women should be placed at the forefront of legislation, and that empowering women through equal opportunities in education, employment and political representation will promote development
Economic development
increase productivity and revenue, to establish new industries; innovate and diversify the economy into many different sectors.
Human development
enlarging people’s freedoms and opportunities, as well as improving their well-being; in a way that enables them to:
-Lead longer, healthier lives
-Gain knowledge
-Have a comfortable standard of living
Sustainable development
Development that meets the needs of the present without compromising the ability of future generations to meet their own needs
Needs to balance: social, economic and environmental.
Income-based measuring development
GDP and GDP per capita, gini coefficient
Gini coefficient
Measures income distribution. High gini coefficient indicates high inequality in society. Complements GDP per capita.
Human Development Index (HDI)
Measures three dimensions of human development: life expectancy, education, and PPP GNI per capita. Reveals national priorities, potential growth, and disparities. Simplifies and captures only part of human development.
Genuine Progress Indicator (GPI)
Uses 26 indicators to measure quality of life, including social, environmental, and economic factors. Factors in intangible positives and lessens costs of setbacks. Focuses on sustainable development.
Happy Planet Index (HPI)
Measures the extent to which countries provide a happy, long, and suitable life for citizens and inhabitants. Uses life expectancy, experienced well-being, and ecological footprint. Reveals countries’ environmental output and high-income countries rank low.
What is the importance of peace and stability in promoting development?
Peace and stability are essential for appropriate decision making and implementation of policies that promote development.
Stable government attracts FDI and investment, leading to economic growth.
Conflicts destroy the social, economic, political, and cultural fabric of society, leading to poverty and vulnerability to famine.
Instability erodes trust and attractiveness of investment destinations and trade partners.
How does governance, accountability, and transparency promote development?
Governance, accountability, and transparency are essential for accelerated growth.
High levels of transparency are associated with low corruption levels, leading to efficient tax reallocation and improvement in infrastructure, healthcare, and education.
Developed states have a powerful and independent judicial system that impartially reviews the legality of the government’s actions.
A positive approach towards an accountable and transparent system with a strong and efficient bureaucracy leads to accelerated growth rate.
How does governance, accountability, and transparency inhibit development?
Low levels of transparency are associated with high corruption levels, misallocating taxes and other revenues.
Corruption erodes people’s trust in the public sector and misrepresents their best interests.
Lack of an independent judiciary makes unfair or unjust decisions due to influence by outside sources.
Neoliberalism
Assumes that the free market is the most fair and efficient way to foster economic growth and development.
This theory says that government interference almost always has negative long-term consequences on development
The Washington Consensus
Pro-democracy, argues that the free market can only function effectively and efficiently in an environment where the rule of law is respected and citizens are able to express their opinions.