CPO2001 Less Developed Countries and Newly Industrializing Countries

Imperialism

A system in which a state extends its political power over territory outside its borders

Colonialism

A system in which an imperial state has a very high level of control over many aspects of territory outside its borders including politics, commerce and society.

Newly industrializing countries

states that have made progress toward becoming advanced industrial countries

Less developed countries

states that have not made progress in development.

What is the net-effect (consequence) of colonialism?

post-colonial states were often weak after independence

What methods did poorer and newly independent countries try to implement to promote growth?

Import substitution, export-oriented industrialization, structural adjustment

Import substitution

Reduce imports to develop local production

Export-oriented industrialization

invest capital in specific sectors and firms that will export

Structural adjustment

reduce regulation and trust market forces

Breakthrough cases post communism

Serbia, Georgia, Ukraine

Full-blown dictatorships post communism

Central Asia, Belarus, Russia

Countries with quick transitions after communism

Baltic states, Hungary, Poland, Slovenia, East Germany, Czechoslovakia