POL100 Final Extra

Dependency theory

A theory arguing that resources flow from poor and exploited "periphery" states to wealthy "core" states, designed to maintain global inequalities

Development

A process focused on satisfying basic needs (food, housing, healthcare, education) and creating a diverse, sophisticated economy

Export-oriented industrialization

An economic policy used by the "Asian Model" to achieve growth by providing incentives for exports and influencing investment

Import substitution industrialization

A statist approach using high tariffs to protect domestic industries and replace foreign imports with domestic production to diversify the economy

Free-market economic model

An approach that urges the Global South to limit the economic role of the state in favor of market-centered policies

International financial institution

Global organizations, such as the IMF and World Bank, that provide loans to the Global South often in exchange for implementing specific economic reforms

Modernization theory

A theory suggesting that developing nations must change traditional values and institutions to "copy" the developed West and transition from agricultural to industrial societies

Statist economic model

An economic approach where the government plays a significant and strong role in directing the economy

Socialist Model

A statist model featuring state ownership of the means of production and state-directed allocation of resources

Democratic Socialist Model

An approach combining market capitalism with a strong welfare state and public ownership of key industries to prioritize public needs over corporate profit

Asian Model

A statist model where the state guides capitalism, influences investment, and provides incentives for exports

Washington Consensus

A set of free-market policies (austerity, trade liberalization, privatization) required by international financial institutions for countries in debt

Structural adjustment programs (SAP)

Low-interest government loans granted to developing nations contingent on their compliance with Washington Consensus reforms

Official development assistance

Resources provided by wealthy governments specifically to promote economic and social development in poorer countries

Gross Domestic Product

A measure used to classify countries based on the total market value of all goods and services produced within a given period

Balance of power

A condition in a multipolar system where power is distributed among three or more poles so that no single state is dominant

Hegemon

A single dominant state within the international system, such as the United States in the post-Cold War era

Postmodern state

A state where sovereignty is redefined and governance is shared among actors, such as member states of the European Union

Marxist IR

A radical approach viewing social classes and transnational economic elites as key actors and seeing free-market capitalism as the primary cause of global conflict

Constructivism

An international relations theory arguing that national interests are "socially constructed" based on identities, ideas, norms, and values

Foreign policy analysis

The study of how individual characteristics, state structures, and systemic distribution of power influence a country's actions on the world stage

Asian Tigers

The economies of Singapore, South Korea, Hong Kong, and Taiwan, which achieved rapid industrialization through state-directed growth between the 1960s and 1990s