Studied by 3 people
Core
A country that is well developed with a strong economic base - Wallersteins theory; Countries that Receive raw materials from peripheral countries to process into manufactured goods.
Deindustrialization
a process in which the industrial activity in a country or region is removed or reduced because of a major economic or social change
Developed (first world) countries.
A country that has progressed relatively far along the continuum of development.
Development disparities.
the inequity between developed and developing countries,
Gini coefficient.
A measure of statistical dispersion intended to represent the income distribution of a nation's residents, and is the most commonly used measure of inequality.
Human development index
An indicator constructed by the UN To measure the level of development for a country through a combination of income, education, and life expectancy.
Import substitution.
government policy of encouraging local manufacturers to produce goods that would replace imports
International monetary fund.
an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Less developed (third world) countries
A country that is at a relatively at a early stage in the process of development
Microloans.
small loans provided to individuals or small businesses
Newly industrialized countries.
a developing economy that has transitioned from being based on agriculture or extraction of raw materials, to being primarily based on the production of manufactured goods.
Periphery.
Countries that are less developed; Obtain raw materials to send to core countries
Protectionism.
When a country seeks to limit trade through various mechanisms
Quota
Established limits by governments on the number of immigrants who can enter a country each year.
Rostow's stages of economic growth.
the steps that should be taken by a nation to become fully developed; traditional society, preconditions to take-off, take-off, drive to maturity, and age of high mass consumption
Semi periphery.
Countries that are combination of periphery and core.
Sustainable development
use of natural resources in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs
Tiger economies/ Asian dragons.
country whose economy has grown and become successful very quickly; Kong, Singapore, South Korea, and Taiwan
UN millennium/ Sustainable development goals
17 goals adopted by the UN in 2015 to reduce disparities between developed and developing countries by 2030.
World Bank.
A specialized agency of the United Nations that makes loans to countries for economic development, trade promotion and debt consolidation.
Wallerstein's World systems theory
Theory that in an increasingly unified world economy, developed countries form an inner core area where as developing countries are found on the periphery and semi periphery.
Gross domestic product.
The value of the total output of goods and services produced in a country in a year, not accounting for money that leaves and enters the country.
Literacy rate.
The percentage of a country's people that who can read and write.
Gender inequality index.
An indicator constructed by the UN to measure the extent of each country's gender inequality in terms of reproductive health, empowerment, and the labor market.
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