Chapter 10 Vocabulary

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Commodity Chain

Back 1

Series of links connecting the many places of production and distribution and resulting in a commodity that is on world market.

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Developing

Back 2

Relating to societies in which capital needed to industrialize is in short supply.

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Per Capita GNI

Back 3

The Gross National Product of a given country divided by its population.

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Formal Economy

Back 4

The legal economy that is taxed and monitored by a government and is included in a government's GNP; as opposed to an informal economy.

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Informal Economy

Back 5

Economic activity that is neither taxed nor monitored by a government and is not included in that government's GNP; as opposed to a formal economy.

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Modernization Model

Back 6

A model of economic development most closely associated with the work of economist Walter Rostow. The modernization model maintains that all countries go through five interrelated stages of development, which culminate in an economic state of self-sustained economic growth and high levels of mass consumption.

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Context

Back 7

Circumstances of a situation; environment

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Neo-Colonialism

Back 8

A process of acculturation or cultural imperialism through which forms of industrial, political and economic organization are often imposed on other cultures under the guise of getting aid in the form of technological and industrial "progress," but it can still lead to good things, like bringing needed infrastructure.

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Structuralist Theory

Back 9

A general term for a model of economic development that rests economic disparities among countries or regions as the result of historically derived power relations within the global economic system.

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Dependency Theory

Back 10

A model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones.

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Dollarization

Back 11

When a poorer country's ties the value of its currency to that of a wealthier country, or when it abandons its currency and adopts the wealthier country's currency at its own.

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World-Systems Theory

Back 12

Wallersteins Theory of the core, semi periphery, periphery, and external areas. The core benefited the most from the development of a capitalist world economy. Semi periphery was the buffer between the core and periphery. Periphery are states that lack strong central gov'ts or are controlled by other states. External areas are states that maintained their own economic system and for the most part, remained outside of the capitalist world economy

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Three-Tier Structure

Back 13

With reference to Immanuel Wallersteins world-systems theory, the division of the world into the core, the periphery, and the semi-periphery as a means to help explain the interconnections between places in the global economy.

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MIllenium Development Goals

Back 14

Eight international development goals that 192 United Nations member states and at least 23 international organizations have agreed to achieve by the year 2015. They include reducing extreme poverty, reducing, child mortality rates, fighting disease epidemics such as AIDS, and developing a global partnership for development.

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Trafficking

Back 15

When a family sends a child or adult to a labor recruiter in hopes that the labor recruiter will send money, and the family member will earn money to send home.

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Structural Adjustment Loans

Back 16

Loans granted by international financial institutions such as the world bank and the International Monetary Fund to countries in the periphery and the semi periphery in exchange for certain economic and governmental reforms in that country.

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Neoliberalism

Back 17

A strategy for economic development that calls for free markets, balanced budgets, privatization, free trade, and minimal government intervention in the economy.

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Vectored Diseases

Back 18

A disease carried from one host to another by an intermediate host.

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Malaria

Back 19

A disease caused by mosquitoes implanting parasites in the blood.

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Export Processing Zones

Back 20

Zones established by many countries in the periphery and semi periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment.

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Maquiladoras

Back 21

The term given to zones in northern Mexico with factories supplying manufactured goods to the US market. The low wage workers in the primarily foreign owned factories assemble imported componets and/or raw materials and then export finished goods.

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Special Economic Zones

Back 22

Specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment.

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NAFTA

Back 23

Agreement signed by the US, Canada, and Mexico in 1992 to form the largest free trade zone in the world.

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Desertification

Back 24

The gradual transformation of habitable land into desert.

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Island of Development

Back 25

Place built up by a government or corporation to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure.

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NGOs

Back 26

International organizations that operate outside of the formal political arena

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Micro-Credit Program

Back 27

Program that provides small loans to poor people, especially women, to encourage development of small businesses.

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Birth Rate

Back 28

Number of births per 1,000 people in a population in a given year.

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Death Rate

Back 29

Number of deaths per 1,000 people in a population in a given year.

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Primary Activity

Back 30

Economic activity concerned with the direct extraction of natural resources from the environment, such as mining, agriculture, and fishing.

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Secondary Activity

Back 31

The processing of raw materials and their transformation into finished idustrial products, manufacturing.

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Tertiary Activity

Back 32

Economic activity associated with the provision of services, such as transportation, banking, retailing, education, and office based jobs.

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Quaternary Activity

Back 33

Service sector industries concerned with the collection, processing, and manipulation of information and capital.

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HDI

Back 34

Indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy statistics.

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GNI

Back 35

The monetary worth of what is produced within a country plus income received from investments outside the country.

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GDP

Back 36

The market value of all final goods and services produced within a country in a given period of time.

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GNP

Back 37

A measure of the total value of the officially recorded goods and services produced by the citizens and corporations of a country in a given year.

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LDC

Back 38

A country that is at a relatively early stage in the process of economic development.

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PCI

Back 39

The amount of money earned in one year in a nation by an average person.

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NIC

Back 40

A subgroup of developing countries that have experienced rapid indusrialization of their economies.

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PQLI

Back 41

A composite indicator of development composed from life expectancy, literacy rate, and infant mortality.

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RNI

Back 42

The annual rate of population growth.

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PPP

Back 43

Measurement of what the same amount of money buys in different countries.

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MDC

Back 44

A country that has progressed relatively far along a continuum of development.

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LR

Back 45

The percentage of people that can read and write in a given population.

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LE

Back 46

A figure indicating how long, on average, a person may be expected to live

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IMR

Back 47

The number of babies that die within the first year of their lives in a given population.