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commodity chain

series of links connecting the many places of production and distribution and resulting in a commodity that is then exchanged on the world market

developing

making progress in tech, production, and socioeconomic welfare

gross national product (GNP)

total value of goods and all services produced by a country's economy in a given year. includes all goods and services produced by corporations and individuals of a country, whehter or not they are located within the country

gross domestic product (GDP)

total value of all goods and services produced within a country during a given year

per capita GNP

the GNP of a given country divided by its population

formal economy

legal economy that is taxed and monitored by a govt and is included in a govt's GNP

informal economy

economic activity that is neither taxed nor monitored by a government, and is not included in that governments GNP

modernization model

a model of economic development. it maintains that all countries go through five interrelated stages of development

context

geographical situation in which something occurs

neocolonialism

the seeking out of the regional culture and reinvigorating of it in response to the uncertainty of the modern world

structuralist theory

model of economic development that treats economic disparities among countries or regions as the result of historically deprived power relations within the global economic system

dependency theory

based on the idea that certain types of political and economic relations between countries and regions of the world have created arrangements that both control and limit the extent to which regions can develop

dollarization

when a poorer country 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 as its own

world-systems theory

theory proposing that social change in the developing world is linked to the economic activities of the developed world

three-tier structure

division of the world into core, periphery, and semi- periphery as a means to help explain interconnections between places in the global economy

trafficking

when a family send a child or and adult to a labor recruiter in hope that the labor recruiter will send money and the family member will earn money to send home

structural adjustments loans

loans granted by intl financial instituitions to countries in the periphery and semi-periphery in exchange for certain economic and governmental reforms in that country

vectored diseases

a disease carried from one host to another by and intermediate host

malaria

spread by mosquitoes that carry malaria parasite in their saliva

export processing zones

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

maquiladoras

zones in northern Mexico with factories supplying manufactured goods to the U.S. market.

special economic zones

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

NAFTA

.agreement entered into by Canada, Mexico, and U.S. to eliminate barriers to trade in and facilitate the cross-border movement of goods and services between the countries

desertification

the encroachment of desert conditions on moister zones along the desert margins

island of development

place built up by a govt or corp to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure

nongovernmental organization (NGO's)

intl organizations that operate outside the formal political arena

microcredit program

program that provides small loans to poor people to encourage development of small businesses

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