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Series of links connecting the many places of production and distribution and resulting in a commodity that is then exchanged on the world market
With respect to a country, making progress in technology, production, and socioeconomic value
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 and services produced within a country during a given year.
Gross national income (GNI)
the total value produced within a country (i.e. its gross domestic product), together with its income received from other countries
The legal economy that is taxed and monitored by a government and is included in a government's Gross National Product (GNP); as opposed to an informal economy
Economic activity that is neither taxed nor monitored by a government; and is not included in that government's Gross National Product (GNP); as opposed to a formal economy
A model of economic development most closely associated with the work of economist Walter Rostow. The modernization model (sometimes referred to as modernization) maintains that all countries go through five interrelated stages of development, which culminate in an economic stage of self-sustained economic growth and high levels of mass consumption
The entrenchment of the colonial order, such as trade and investment, under a new guise.
A structuralist theory that offers a critique of the modernization model of development. Based on the idea that certain types of political and economic relations (especially colonialism) between countries and regions of the world have created arrangements that both control and limit the extent to which regions can develop
A general term for a model of economic development that treats economic disparities among countries or regions as the result of historically derived power relations within the global economic system
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
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
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
Millennium Development Goals
Adopted by the UN in 2000 and set 8 goals to be accomplished by 2015, they are: eradicate extreme poverty and hunger, achieve universal primary education, promote gender equality and empower women, reduce child mortality, improve maternal health; combat HIV/AIDS, malaria, and other diseases; ensure environmental sustainability, develop a global partnership for development
Structural adjustment loans
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 (e.g. privatization of certain government entities and opening the country to foreign trade and investment)
Malaria vectored diseases
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 (EPZs)
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
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 export finished goods
Special economic zones (SEZ)
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
The encroachment 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
Island 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
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