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8 Cards in this Set

  • Front
  • Back

Colonial Legacy

Most developing countries were once colonies of Europe or were once dominated by European or other powers.

Lingering Effect

Institutions created during the colonial period often had pernicious effects on development that, in many cases, have persisted to the present day.

Wealth Extractors more than Wealth Creators

Colonial Era Institutions more favored extractors of wealth rather than creators of wealth, harming development then and now.

Colonial History

Not only were resources stolen by colonial powers but colonial powers also determined whether or not meaningful investments could have been made in these by (or in) these colonies.

Inequality Reinforcement

Development facilitating/inhibiting institutions tend to have a very long life span so long as there are resources to plunder.

Kelptocratic Institutions

These were extractive institutions which functioned at the expense of ones that encouraged productive effort.

Economical and Political Structure

Lasting colonial presence in political governance, new practices of private property ownership, personal taxation and payment by money rather than kind.

External Dependence

Developing countries are less organized in international relations which can set adverse consequences for development.