________- a single political authority that has under its sovereignty a large number of external regions or territories and different peoples.
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Middle income trap
________: a situation where countries experience economic growth but are unable to develop at a speed necessary to catch up with developed countries.
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Neocolonialism
________: Indirect form of imperialism in which powerful countries overly influence the economies of less- developed nations.
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Structural adjustment program
________: a policy of economic liberalization adopted in exchange for financial support from liberal organizations; typically includes privatizing state- run firms, ending subsidies, reducing tariff barriers, shrinking the size of the state, and welcoming foreign investment.
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Import substitution
________- a mercantilist strategy for economic growth in which a country restricts imports in order to spur demands for locally produced goods.
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Dowry tradition
________: girls are viewed as an economic burden.
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Middle-income countries
historically less-developed countries that have experienced significant economic growth and democratization
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Lower-income countries
countries that lack significant economic development, political institutionalization, or both
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Extractive colonies
Built to extract resources from colonies and send them back to the metropole (colonizing power)
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Settler colonies
A lot of Europeans settled
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Export-oriented industrialization
a mercantilist strategy for economic growth in which a country seeks out technologies and develops industries focused specifically on the export market
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Informal economy
a segment of the economy that is not regulated or taxed by the state