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47 Cards in this Set

  • Front
  • Back

Commodity Chain

Series of links connecting the many places ofproduction and distribution and resulting ina commodity that is on world market.

Developing

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

Per Capita GNII

The Gross National Product of a givencountry divided by its population.

Formal Economy

The legal economy that is taxed andmonitored by a government and is includedin a government's Gross National Product; asopposed to an informal economy.

Informal Economy

Economic activity that is neither taxed normonitored by a government; and is notincluded in that government's GrossNational Product; as opposed to a formaleconomy.

Modernization Model

A model of economic development mostclosely associated with the work of economistWalter Rostow. The modernization model(sometimes referred to as modernizationtheory) maintains that all countries gothrough five interrelated stages ofdevelopment, which culminate in aneconomic state of self-sustained economicgrowth and high levels of massconsumption.

Context
Circumstances of a situation; environment.
Neocolonialism
A process of acculturation or culturalimperialism through which forms ofindustrial, political and economicorganization are often imposed on othercultures under the guise of getting aid in theform of technological and industrial"progress," but it can still lead to good things,like bringing needed infrastructure.
Structuralist Theory
A general term for a model of economicdevelopment that treats economicdisparities among countries or regions as theresult of historically derived power relationswithin the global economic system.

Dependency Theory

A model of economic and social developmentthat explains global inequality in terms ofthe historical exploitation of poor nations byrich ones.

Dollarization

When a poorer country ties the value of itscurrency to that of a wealthier country, orwhen it abandons its currency and adoptsthe wealthier country's currency as its own.

World Systems Theory

Wallerstein's theory of the core, semiperiphery, periphery, and external areas.The core benefited the most from thedevelopment of a capitalist world economy.Semi periphery was the buffer between thecore and periphery. Periphery are states thatlack strong central gov'ts or are controlled byother states. External areas are states thatmaintained their own economic system andfor the most part, remained outside of thecapitalist world economy.

Three-tier Structure

With reference to Immanuel Wallerstein'sworld-systems theory, the division of theworld into the core, the periphery, and thesemi-periphery as a means to help explainthe interconnections between places in theglobal economy.

Millennium Development Goals

Eight international development goals that192 United Nations member states and atleast 23 international organizations haveagreed to achieve by the year 2015. Theyinclude reducing extreme poverty, reducingchild mortality rates, fighting diseaseepidemics such as AIDS, and developing aglobal partnership for development.

Trafficking

When a family sends a child or an adult to alabor recruiter in hopes that the laborrecruiter will send money, and the familymember will earn money to send home.

StructuralAdjustmentLoans

Loans granted by international financialinstitutions such as the World Bank and theInternational Monetary Fund to countries inthe periphery and the semi periphery inexchange for certain economic andgovernmental reforms in that country(e.g.privatization of certain government entitiesand opening the country to foreign tradeand investment).

Neoliberalism

A strategy for economic development thatcalls for free markets, balanced budgets,privatization, free trade, and minimalgovernment intervention in the economy.

VectoredDiseases

A disease carried from one host to anotherby an intermediate host.

Malaria

A disease caused by mosquitoes implantingparasites in the blood.

ExportProcessingZones

Zones established by many countries in theperiphery and semi-periphery where theyoffer favorable tax, regulatory, and tradearrangements to attract foreign trade andinvestment.

Maquiladoras

The term given to zones in northernMexico with factories supplyingmanufactured goods to the U.S. market.The low-wage workers in the primarilyforeign-owned factories assembleimported components and/or rawmaterials and then export finishedgoods.

Special EconomicZones

Specific area within a country in whichtax incentives and less stringentenvironmental regulations areimplemented to attract foreign businessand investment.

North AmericanFree TradeAgreement(NAFTA)

Agreement signed by the United States,Canada, and Mexico in 1992 to form thelargest free trade zone in the world.

Desertification

The gradual transformation of habitableland into desert.

Island ofDevelopment

Place built up by a government orcorporation to attract foreign investmentand which has relatively highconcentrations of paying jobs andinfrastructure.

NongovernmentalOrganizations(NGOs)

International organizations that operateoutside of the formal political arena butthat are nevertheless influential inspearheading international initiatives onsocial, economic, and environmentalissues.

Micro-creditProgram

Program that provides small loans topoor people, especially women, toencourage development of smallbusinesses.

Birth Rate (BR)

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

Death Rate (DR)

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

Primary Activity

Economic activity concerned with thedirect extraction of natural resourcesfrom the environment, such as mining,agriculture, and fishing

SecondaryActivity

The processing of raw materials andtheir transformation into finishedindustrial products, manufacturing

Tertiary Activity

Economic activity associated with theprovision of services, such astransportation, banking, retailing,education, and office-based jobs

QuaternaryActivity

Service sector industries concerned with thecollection, processing, and manipulation ofinformation and capital. Examples includefinance, administration, and insurance

HumanDevelopmentIndex (HDI)

Indicator of level of development for eachcountry, constructed by the United Nations,combining income, literacy, education, andlife expectancy statistics

GrossNationalIncome (GNI)

The monetary worth of what is producedwithin a country plus income received frominvestments outside the country.

GrossDomesticProduct(GDP)

The market value of all final goods andservices produced within a country in a givenperiod of time.

GrossNationalProduct(GNP)

A measure of the total value of the officiallyrecorded goods and services produced bythe citizens and corporations of a country in agiven year.

LessDevelopedCountry(LDC)

A country that is at a relatively early stage inthe process of economic development Ex.Zimbabwe

Per capitaincome (PCI)

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

Newly-IndustrializedCountry (NIC)

A subgroup of developing countries thathave experienced rapid industrialization oftheir economies. Ex.- Taiwan, India, Mexico

PhysicalQuality of LifeIndex (PQLI)

A composite indicator of developmentcomposed from life expectancy, literacy rate,and infant mortality

Rate ofNaturalIncrease (RNI)

The annual rate of population growth

PurchasingPower Parity(PPP)

Measurement of what the same amount ofmoney buys in different countries

MoreDevelopedCountry(MDC)

A country that has progressed relatively faralong a continuum of development.

Literacy Rate(LR)

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

LifeExpectancy(LE)

A figure indicating how long, on average, aperson may be expected to live.

InfantMortalityRate (IMR)

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