Political Economy of Development - Session #01 Flashcards

FILL_IN_THE_BLANK style flashcards covering key concepts from the first lecture of Political Economy of Development.

Development Studies emerged in the (decades).

1950–1960s

Development Studies primarily focuses on reduction and improving human development in the ‘developing’ world.

poverty

According to the Cambridge English Dictionary, development is a process in which something or changes and becomes more advanced.

grows

In Political Economy literature, development is often equated with economic growth, progress, or .

modernization

The term “Third World” was coined by French economist in 1952.

Alfred Sauvy

During the Cold War, the “Second World” referred to countries.

communist

A key critique of the term “Third World” was that by the 1990s there were no longer clear divisions between and poor countries.

rich

The Global North includes advanced economies such as North America, Europe, Japan, Australia, and .

New Zealand

The World Bank classifies a country as high-income if its GNI per capita exceeds USD.

12,235

The United Nations refers to the world’s poorest economies as (acronym).

LDCs (Least Developed Countries)

In the 1950-60s, a political concern of Development Studies was -building.

nation

Among the East Asian Newly Industrialized Countries (NICs) are Singapore, Hong Kong, Taiwan, and .

South Korea

The Human Development Index (HDI) was devised in 1990 by the .

UNDP (United Nations Development Programme)

State-led development requires massive financial investments coordinated by the .

central government

“Governance” refers to both the process of governmental decision-making and the by which decisions are carried out.

manner

Rostow’s Modernization Theory proposes stages of economic growth.

five

In Rostow’s model, the stage after “traditional society” is “ for take-off.”

preconditions

Dependency theory emphasizes a -satellite relationship between core and peripheral countries.

metropolis

Amartya Sen’s approach highlights people’s rather than mere consumption.

capabilities

Neoliberal reforms of the 1980-90s sought to expand the role of the sector through privatization.

private

The Washington Consensus is criticized for promoting a view that downplays the state’s role.

pro-market

The UN’s global framework for 2001-2015 comprised eight .

MDGs (Millennium Development Goals)

Sustainable Development Goal 1 is .

No Poverty

The Fragile States Index was originally called the States Index.

Failed

Failed states are marked by a collapse of institutions and .

law and order