Development And Globalisation Flashcards
(23 cards)
GDP gross domestic product
Total value of goods and services produced in a country per head
GNP gross national product
All goods and services plus net income from oversees, per head
HDI human development index
Life expectancy at birth
Adult literacy/education
GDP per capita PPP
Development
Improvements in economic, political, demographic, social and cultural aspects
Rostows model
Development was linear to move up investment was needed
Globalisation
Involves increases of flows between of capital, labours, services ideas and products between countries on a worldwide scale. With few or no boundaries
Clark fisher model
Over time tertiary industry increases
Primary decreases
Secondary industry rises then falls
FDI (foreign direct investment)
By TNC’s to developing countries creating a competitive price
~ global shift
IMF
International Monetary Fund
-offer financial assistance at last resort, usually renegotiates debts
❌ cut welfare
GATT
General agreement on tariffs and trade
Lower barriers on trade and have shrunk 1/10
Fordist crisis
When the replacement level was hit in western worldwide then profits fell due to no new growth… Move to NICs to cut costs
LDC
- Poverty GNI per capita under $900
- Human Asset Index low
- Economic vulnerability index (unplanned shocks)
SAPs (structural adjustment packages)
Rescheduling loans to make them more affordable in return for cuts imposed by IMF on government budgeting/spending
UN millennium declaration
Targets HDI to reduce extreme poverty
Economies of scale
Greater the scale of production then the lower the cost of production
PPP (Purchase Power Parity)
Relates average earnings to prices and what it will buy
Eg,, the dollar buys more in some countries than others
WTO (World Trade Organisation)
Cut trade barriers that stop countries trading freely so goods can flow easily
Product lifestyle theory
Development
Maturity
Standardisation
Aid
The transfer of money, equipment or man power to another country with the intention of benefitting its people
Trade
Buying and selling of commodities or services for profit or to gain advantage
Club of Rome
Limited to growth where increased population would eventually go into decline as resources were used up and pollution increased/food supplies run out
ESI (environmental sustainability index)
Measures likelihood of a country being able to preserve environmental efficiency
0 bad
100 good
Butlers tourist destination life cycle
Exploration early growth
Involvement phase investment
Further growth mass tourism
