Terms in this set (20)
Purchasing Power Parity
A monetary measurement of development that takes into account what money buys in different countries
Human Development Index
the UN's index used to rank standards of living in its member countries
A theory that attributes global inequality to cultural differences between countries
According to Jeffery Sachs, a series of obstacles that cause economies to stagnate.
an international bank that offers low-interest loans, advice, and information to developing nations
International Monetary Fund
An international organization founded in 1944 to promote market economies and free trade.
Fast-growing economies of Southeast Asia, including Hong Kong, South Korea, Singapore, and Taiwan.
Export led approach
Identifies products that can be exported to the outside world, taking advantage of a country's specific advantages. South Korea - Samsung
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
Practice of not using natural resources more quickly than they can be replenished
Gross National Income
A measure that reflects the economic state of a country once expenses or debts have been paid.
Gross Domestic Product
The sum total of the value of all the goods and services produced in a nation
Gender Inequality Index
A measure of the extent of each country's gender inequality
nuclear energy regarded as a source of electricity for the power grid (for civilian use)
A resource that has a theoretically unlimited supply and is not depleted when used by humans.
Continuing dependence of former colonies on foreign countries.
A five stage model that defines how far a country is or isn't
Products are made with standards to protect workers and small businesses in periphery exporters
World Systems Approach
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
used terms, core, semi-periphery, and periphery, to promote dependency theory among nations