Development Flashcards
Development
Characteristics that describe stage country reaches economic, social,
technological + cultural levels. Includes QOL and SOL
Demographic Transition
Pop structure changing with economy (basically going from LEDC to MEDC, lower birth rates, lower death rates etc)
Sectors of Economy
Primary - FFFM
Secondary - Manufacturing (Processing of raw goods. Textile, car manufact etc)
Tertiary - Service industries (Restaurant, hotel etc)
Quaternary - RnD. Essentially very refined service
Quinary - Non-profit pub services like healthcare, education, culture. Things not meant to earn financial return
LEDC’s
Primary Activites, Informal service sector, little use of technology
NIC’s
Newly Industrialised Country. Strong Manufacturing sector. Transnationals(Businesses operating in many countries) tend to extend operations to NIC to take advantage of cheap labour
MEDC’s
Strong tertiary sector. Growth of knowledge economy jobs.(Software developers Engineers Physicians Scientists Lawyers Researchers Data scientists Data mining analysts.) Automation or transfer of manufacturing to NIC
Dev Continuum
Dev not static but continual process. Rate of dev differs per country
Development Successes?
Dev has been more successful socially than economically eg education, literacy, healthcare. Developing countries now have lowering infant mortality rates and higher LE
Brandt Line
Divides MEDC North from LEDC South
Economic dev
Income levels associated with different kinds of work people do. Wealthy countries have access to fancy machinery, improve mechanization, financial systems and high technology societies.
Social dev
Refers to providing people with essential services
Economic indicators
GDP - Excludes money spent outside of the nation
GNP - Includes money spent outside of the nation
PPP - Level of GNP adjusted to local cost of living(Big mac index is example of PPP)
How is dev measured?
Economic indicators, demographic indicators, human+social dev indicators
Human and Social dev indicators
PQLI - x̄(Literacy, Life Expectancy, infant mortality)
HDI - 0-1(1 is most developed). Social + Economic Indicators like LE, Education, GNI per capita (To give an idea of SOL)
Gini Coefficient - measure of income disparity. 0 - wealth distributed evenly between pop. 1 - perfect inequality
Demographic Indicators
LE and IM(Number of infant deaths per thousand per year)
Community Based Development
Establishment of fiscal frameworks (monetary economic policies) that promote/support community empowerment:
Bottom up approach
Community driven
Build local economies
Alleviate poverty and vulnerability
Sustainable development
Capacity development
Long term economic development
Community empowerment
Increased access to market
Focus on disaster preparedness
Why does trading occur
Due to unequal distribution of resources. Inter dependence between countries that trade
International Trade
Exchange of goods+services between countries
Trade Surplus and Trade Deficit
TS: E>I, TD: E<I
Commodity
Any product that has economic value and can be
traded
Why do MEDC’s make more than LEDC’s in terms of trade?
LEDC’s export primary goods (unprocessed), MEDC’s export manufactured and processed goods which are more valuable
Tarrif
Tax imposed by one country on goods and services imported by another country
Quota
Government imposed trade restriction limiting amount of imports/exports of a certain product/service.
Globalization
The process of change, increasing interconnectedness and interdependence among countries and economies
Problems with export led growth
Over reliance on one export is risky in todays global economy. If anything happens to your main exporting product(decreased production etc) then the whole economy is affected and if main traders are unable to afford product then you suffer more.
IDZ
Industrial development zone. Propose-built industrial real estate linked to international air or sea port.
SDI
Spatial Development Initiative. Government programmes to encourage investment and job creation in untapped areas with high growth potential.
Dev Aid
Assistance in form of technical assistance, international assistance, overseas aid, foreign aid or official dev assistance
Dev Co-operation
MEDC’s no longer provide aid but rather promote development in LEDC’s. Working together rather than act like a charity
Technical Aid
Provide tech (machinery, improved irrigation, introducing new technologies etc) to improve efficiency + productivity
Conditional aid
Aid given with requirements
Humanitarian aid
Material/logistical aid provided for humanitarian assistance generally in response to nat/human disaster. Objective is to save lives and alleviate suffering.
Resources
Natural and economic assets used by people. Human resources and skills used to produce goods+services. Finite resources - exhaustible
