Chapter 10: Development

These flashcards cover key concepts and definitions related to development as outlined in the lecture notes.

What is development according to the lecture notes?

Development is a process of improving a person's prospects of leading a long and healthy life, acquiring knowledge, and obtaining adequate resources.

What does HDI stand for and what does it measure?

HDI stands for Human Development Index, which measures the level of development in a country based on a decent standard of living, a long and healthy life, and access to knowledge.

How does development vary among countries?

Development varies according to different regions, economic groups, and gender, with some countries being classified as developed and others as developing based on their progress.

Why are inequalities in development significant?

Inequalities in development highlight disparities between gender, economic groups, and regions, impacting overall progress and quality of life in different countries.

What is the difference between developed and developing countries in terms of GNI per capita?

Developed countries typically have a much higher GNI per capita compared to developing countries, often reflecting greater access to resources and opportunities.

What are the three factors considered in the Human Development Index (HDI)?

The three factors are a decent standard of living, a long and healthy life, and access to knowledge.

What is the purpose of the Inequality-adjusted Human Development Index (IHDI)?

The IHDI modifies the HDI to account for inequality within a country, providing a clearer picture of actual human development.

What are structural adjustment programs?

Structural adjustment programs are economic reforms imposed on less developed countries by international organizations to promote economic stability and growth.

What is Fair Trade?

Fair Trade is a movement aiming to provide equitable trading conditions, fair wages, and sustainable practices for producers in developing countries.

What is the expected outcome of the Sustainable Development Goals (SDGs) adopted in 2015?

The SDGs aim to achieve significant global improvements by 2030 concerning issues like poverty, inequality, and sustainability.

How do countries typically finance their development?

Countries finance development through foreign direct investment (FDI) and loans from international organizations such as the World Bank and IMF.

What does the term 'self-sufficiency' refer to in the context of development paths?

Self-sufficiency refers to a development model where countries focus on domestic production and limit foreign influences to foster local industries.

What is the significance of the Gender Inequality Index (GII)?

The GII measures the extent of gender inequality in a country regarding reproductive health, empowerment, and labor market participation.

What is a common challenge faced by developing countries during economic downturns?

Developing countries often struggle to balance austerity measures and stimulus strategies, which can hinder their economic development.

What is the role of microfinance in development?

Microfinance provides small loans to individuals and businesses in developing countries that are often unable to access traditional banking services, supporting entrepreneurship.