Emerging and Developing Economies

Question 1

What is economic development about?

Answer 1

improvement in living standards

Question 2

Difference between developed country and developing

Answer 2

Developed - high gdp per head , education, hea;thcare, reliable safe transport infrastructure , likely to have deinsutralised

Question 3

Human Development Index

Answer 3

measures economic development

• health
• education (25years+)
• income

index between 0-1 , higher = greater development

Adv
- easy to calulate

dis
- does not consider other factors like enviroment freedom from corruption

Question 4

Name 3 other measures of economic development aside from human development index

Answer 4

• IHDI (ajdusted for insequality but does not look at env
• MPI (does not look at env)
• Genuine progress indicator (26 diff indicators grouped into econ socia; env looks at env, may be biased anti-growth case

Question 5

Economic factors affecting growth and development

Answer 5

• primary - product dependency - (preschbish singer hypothesis, low income elasticty wealthier u get, dutch disease decreases competetivness, natural disasters)
• saving gaps , developing countries lower incomes so they save less - harrod domar model
• foreign currency gap export too low to finance investment or overseas goods ethiopa 2018 gdp public debt 60% cannot repay debt
• demographic factors high population growth, if population grows 5%, so does economy , africa to double by 2050
• debt
  nigeria 52 percent
• infrastructure - india power blackouts 2012

Question 6

non economic factors influeicng economic growth

Answer 6

corruption - high levels of burecracy

diseases

poor climates civil wards - syria

Question 7

Market oreintated strategies influeicng economic growth and development

Answer 7

• promotion of fdi
• removal of subsidies
• trade librealisation
• privatisation
• floating exchnage rate
• microfiancne schemes - women

Question 8

Inteventionist stratgies infleucing economic growth and development

Answer 8

• managed exchange rate
• infrastructure development
• joint venetures with global companies
• protectionism
• development of human capital
• buffer stock schems

Question 9

Other factors strategies economic growth and development

Answer 9

• International Monetary Fund
• World Bank
• NGOs non prfit organisations (anti-capitalist dis)
• Industrailisation
• Development of tourism
• Fairtrade schemes
• Aid
• Primary industries
• Debt releif