| Term | Definition |
|---|
| 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 | with respect to a country, making progress in technology, production, and socioeconomic welfare |
| gross national product (GNP) | the total value of all goods and services produced by a country's economy in a given year. it includes all goods and services produced by corporations and individuals of a country, whether or not they are located within the country. |
| gross domestic product (GDP) | the total value of all goods produced within a country during a given year |
| gross national income (GNI) | calculates the monetary worth of what is produced within a country plus income received from investments outside the country |
| per capita GNI | GNI data divided by a country's population |
| formal economy | the legal economy that is taxed and monitored by a government and is included in a government's GNP |
| informal economy | economic activity that is neither taxed nor monitored by a government; and is not included in that government's GNP |
| modernization model | a model of economic development most closely related with the work of economist Walter Rostow. maintains that all countries go through five interrelated stages of development, which cumulate in an economic state of self-sustained economic growth and high levels of mass consumption |
| context | the geographical situation in which something occurs; the combination of what is happening at a variety of scales concurrently |
| neo-colonialism | the entrenchment of the colonial order, such as trade and investment, under a new guise |
| structuralist theory | a general term for a model of economic development that treates economic disparities among countries or regions as the result of historically derived power relations within the global economic systems |
| dependency theory | a structuralist theory that offers a critique of the modernization model of development. based on the idea that certain types of politicall and economic relations between countries and regions of the worldhave created arrangements that both control and limit the extent to which regionscan develope |
| 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 originated by Immanuel Wallerstein and illuminated by his three-tier structure, proposing that social change in the developing world is inextricably linked to the economic activities of the developed world |
| three-tier structure | with reference to Immanuel Wallerstein's 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 |
| trafficking | when a family sends a child or an adult to a labor recruiter in hopes that the labor recruiter will send money, and the family member will earn money to send home |
| structural adjustment loans | loans granted by international financial institutions such as theWorld 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 |
| vectored diseases | a disease spread from one host to another by an intermediate host |
| malaria | vectored disease spread by mosquitoes that carry the malaria parasite in their saliva and which kills approximately 150,000 children in the global periphery each month |
| 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 |
| maquiladora | the term given to zones in northern Mexico with factories supplying manufactured goods to the U.S. market. the low-wage workers in the primarily foreign-owned factories assemble imported components and/or raw materials and then exported finished goods |
| 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 |
| North American Free Trade Agreement (NAFTA) | Agreement entered into by Canada, Mexico, and the United States in December, 1992 and which took effect on January 1, 1994, to eliminate the barriers to trade in, and facilitate the cross-border movement of goods and services between the countries |
| desertification | the enroachment of desert conditions on moister zones along the desert margins, where plant cover and soils are threatened by desiccation-through overuse, in part by humans and their domestic animals, and, possibly in part because of inexorable shifts in the Earth's environmental zones |
| islands of development | place built up by a government or corporation to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure |
| nongovernmental organizations (NGOs) | international organizations that opperate outside ofthe formal political arena but that are nevertheless influential in spearheading international initiatives on social, economic, and environmental issues |
| microcredit programs | program that provides small loans to poor people, especially women, to encourage development of small businesses |
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