econ

70問 • 2年前

問題一覧

give the structure of development countries

the size of the country, its historical and colonial background, its endowments of physical and human resources, the relative importance of its public and private sectors

characteristics of developing nations

lower levels of living and productivity, lower levels of population growth, higher levels of inequality and absolute poverty, higher population growth rates, greater social fractionalization

def of underdevelopment

low income per capita, low rates of economic growth, low consumption levels, poor health services, high death rates

major streams of thoughts

the neocolonial dependence model, the false paradigm model, the dualistic development thesis

example of structural change model

two sector surplus labor, patterns of development

economic resources inputs

land, labor, capital, entrepreneurship

is a branch of Social Science that deals with allocation of resources, production, distribution, and consumption of goods and services.

economics

conversion of resources to goods & services

production

distributing the outputs to the retailers/wholesalers

distribution

consumers buying the product

consumption

two branches of economics

microeconomics and macroeconomics

key concepts in economics

opportunity cost, marginal benefit, marginal cost, efficiency, incentives, exchange, market, theory

The study of how economies are transformed from stagnation to growth and from low-income to high-income status, and overcome problems of absolute poverty.

development economics

unable to meet the minimum levels of income, food, clothing, health care, shelter and other essentials.unable to meet the minimum levels of income, food, clothing, health care, shelter and other essentials.

absolute poverty

It is concerned with economic, cultural and political requirements for effecting rapid structural and institutional transformations of entire societies in a manner that will mostly efficiently bring the fruits of economic progress to the broadest segments of their populations.

nature

To help people understand developing economies in order to help improve the material lives of the majority of the global population

aim

secondary needs

transportation, communication, education, medication, electricity, entertainment

The study of Economic Development traces the current state of developing nations,

scope

what are the scope of economics

poverty, inequality, population growth, rural - urban migration, agricultural development, international trading, stabilization policies, financial system, fiscal policy

Importance - To help developing countries attain development:

economic and social equality, elimination of poverty, universal education, rising levels of living, national independence, modernization of institutions, rule of law and due process, access to opportunity, political and economic participation

It means achieving sustained rates of growth of income per capita to enable a nation to expand its output at a rate faster than the growth rate of its population.

traditional meaning

During the 1970s, economic development came to be redefined in terms of the reduction or elimination of poverty, inequality, and unemployment within the context of a growing economy.

new meaning

The process of improving the quality of all human lives and capabilities by raising people’s levels of living, self-esteem, and freedom.

new meaning of development

a combination of low per capita incomes and highly unequal distributions of that income

magnitude of worlds poverty

In order to quantify the line of poverty the World Bank in its 1990 report adopted a universal figure of per person a year to meet the cost of minimum adequate caloric intakes and other necessities.

370

Those whose income fall beyond this figure are poor and those who fall beyond are extremely poor

275

The figures were estimated according to the prices of 1985 in some countries with low average incomes:

Bangladesh, Egypt, India, Indonesia, Kenya, Morocco, Tanzania.

There are people in the developing countries who fall under the poverty line and beyond the extreme poverty line.

1,116 and 633 million

how many percent of Third-World population are poor

33 percent

how many of Third-World population are extremely poor

18 percent

itself maintains the forces that lead to its perpetuation.

poverty

is a state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living.

poverty

an amount where people able to meet their basic minimum requirements

poverty line

is a mechanism that makes it very difficult for people to escape poverty.

poverty trap

is created when an economic system requires a significant amount of capital in order to earn enough to escape poverty.

poverty trap

When individuals lack this capital, they may also find it difficult to acquire it, creating a self-reinforcing cycle of poverty.

poverty trap

The Structure of Third World Economies – 7 critical components

1. The size of the country (geographic area, population, and income) 2. Its historical and colonial background 3. Its endowments of physical and human resources 4. The relative importance of its public and private sectors 5. The nature of its industrial structure 6. Its degree of dependence on external economic and political forces 7. The distribution of power and the institutional and political structure within the nation.

Characteristics of the Developing World

1. Lower levels of living and productivity 2. Lower levels of human capital 3. Higher levels of inequality and absolute poverty 4. Higher population growth rates 5. Greater (ETHNIC, ASPECT) social CULTURAL, fractionalization RELIGIOUS 6. Larger rural populations but rapid rural-to-urban migration 7. Lower levels of industrialization 8. Adverse geography (RESOURCES / WEATHER & CLIMATE) 9. Underdeveloped financial and other markets 10. Lingering colonial impacts such as poor institutions and often external dependence

Socioeconomic dev’t based on income per capita, education and health

Human development index

states that development undergoes stages of growth in achieving development

Linear Stages Theory

advocated by the American economic historian Walt W. Rostow.

Linear Stages Theory

A functional economic relationship in which the growth rate of gross domestic product (g) depends directly on the national net savings rate (s) and inversely on the national capital-output ratio (c).

Harrod-Domar growth model

summation of all final goods and services produced by a country for one year.

GDP

A ratio that shows the units of capital required to produce a unit of output over a given period of time.

Capital-output ratio

Savings expressed as a proportion of disposable income over some period of time.

Net savings ratio

This model describes the transformation of the economic structures of the developing countries from traditional subsistence agriculture to modern industrialized economy.

Structural change model

The basic model of Lewis was the Structural Transformation as described above. Later it was modified by John Fei and Gustav Ranis.

Two-sector surplus labor

The hypothesis that underdevelopment is due to underutilization of resources arising from structural or institutional factors that have their origins in both domestic and international dualism.

Structural-change theory

The process of transforming an economy in such a way that the contribution to national income by the manufacturing sector eventually surpasses the contribution by the agricultural sector.

Structural transformation

A theory of development in which surplus labor from the traditional agricultural sector is transferred to the modern industrial sector, the growth of which absorbs the surplus labor, promotes industrialization, and stimulates sustained development.

Lewis two-sector model

This focuses on the process of replacing traditional sector to industrial sector.

Patterns of Development

emphasize both domestic and international constraints on development.

Empirical structural-change analysts

This model sees the developing nations as being threatened by external environment such as

International-Dependence revolution

believes that the developing countries are underdeveloped and continues to be due to the historical evolution of a highly unequal international capitalist system of rich country–poor country relationships

Neocolonial dependence model

There are some elite groups in the periphery,

as comprador group,

The reliance of developing countries on developed-country economic policies to stimulate their own economic growth.

dependence

In international affairs, a situation in which the developed countries have much greater power than the less developed countries in decisions affecting important international economic issues, such as the prices of agricultural commodities and raw materials in world markets.

dominance

A model whose main proposition is that underdevelopment exists in developing countries because of continuing exploitative economic, political, and cultural policies of former colonial rulers toward less developed countries.

Neocolonial dependence model

Underdevelopment is due to faulty and misleading and inappropriate advice given by the experts coming from developed countries.

False Paradigm model

The proposition that developing countries have failed to develop because their development strategies (usually given to them by Western economists) have been based on an incorrect model of development, one that, for example, overstresses capital accumulation or market liberalization without giving due consideration to the needed social and institutional change.

False-paradigm model

The nature of the world that we live in is the existence of the rich and the poor: rich and poor nations, rich and poor people.

Dualistic-Development thesis

The coexistence of two situations or phenomena (one desirable and the other not) that are mutually exclusive to different groups of society—for example, extreme poverty and affluence, modern and traditional economic sectors, growth and stagnation, and higher education among a few amid large-scale illiteracy.

dualism

In developed nations, this counterrevolution favored supply-side macroeconomic policies, rational expectations theories, and the privatization of public corporations. In developing countries, it called for freer markets and the dismantling of public ownership, government activities

Neoclassical counterrevolution

3 component approaches of the Neoclassical Counterrevolution

market analysis, theory, market friendly approach

Theoretical analysis of the properties of an economic system operating with free markets, often under the assumption that an unregulated market performs better than one with government regulation.

Free-market analysis

The theory that self-interest guides all individual behavior and that governments are inefficient and corrupt because people use government to pursue their own agendas.

Theory (new political economy approach)

The notion historically promulgated by the World Bank that successful development policy requires governments to create an environment in which markets can operate efficiently and to intervene only selectively in the economy in areas where the market is inefficient.

Market-friendly approach

proposes that tasks of production must be executed proficiently together in order for any of them to be of high value.

Michael Kremer in 1993

The key feature of this model is positive assortative matching people with similar skill levels work together.

O-Ring theory of economic Development

includes that real GDP per person increases due to choices people make based on profit gain their choices and that growth persist perpetually.

New growth theory

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Samantha Ford · 77問 · 2年前

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