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Economics > Global – Sustainable Development > Flashcards

Global – Sustainable Development Flashcards

1
Q

What is Sustainable Development?

A

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

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2
Q

What are the Sustainable Development Goals (SDGs)?

A

Set of 17 goals that were developed at the UN Conference on Sustainable Development in Rio de Janeiro in 2012. They are used by governments and international organizations in their fight against poverty and efforts to achieve sustainable economic development.

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3
Q

Give three examples of SDGs

A
  • Zero hunger
  • Quality education
  • Gender equality
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4
Q

What is the Relationship between Poverty and Sustainability?

A

Poverty is a cause of environmental destruction due to the overexploitation by poor people of their scarce environmental resources.

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5
Q

What is “Pollution of Poverty”?

A

Pollution due to economic activities pursued by very poor people in an effort to survive.

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6
Q

What is “Pollution of Affluence”?

A

Pollution which arises from industrial production based on use of fossil fuels and using common pool resources.

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7
Q

Distinguish between Economic Growth and Economic Development

A

Economic growth refers to increases in output (real GDP). Economic development refers to a process that leads to improved standards of living for a population.

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8
Q

What is Human Development?

A

The process of expanding human freedom (e.g. freedom to satisfy hunger, prevent illnesses, have adequate shelter and clothing, etc).

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9
Q

How is Economic Development Measured?

A

Through the use of indicators; these can be composite or single and they explore the different dimensions of economic development.

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10
Q

List the Single Indicators used to Measure Economic Development

A

1) GDP and GNI per capita
2) GDP and GNI per capita in terms of PPP
3) Health indicators
4) Education indicators
5) Economic inequality indicators
6) Social inequality indicators
7) Energy indicators
8) Environmental indicators

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11
Q

Explain the Use of GDP and GNI per capita to Measure Economic Development

A

GNI per capita is an indicator to the standards of living per person in a country (shows level of income). GDP per capita is an indicator to the level of output produced per person. (higher = better)

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12
Q

Explain the Use of GDP and GNI per capita in terms of PPP to Measure Economic Development

A

Allows to make comparisons between GNI and GDP of countries with different currencies (to understand levels of economic development).

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13
Q

Explain the Use of Health Indicators to Measure Economic Development

A 
Considers life expectancy at birth + infant mortality + maternal mortality. Depends on the factors:
• Access to health services
• Diet 
• Education 
• Income inequalities and poverty
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14
Q

Explain the Use of Education Indicators to Measure Economic Development

A

Measures levels of educational attainment: literacy + primary + lower secondary enrollment.

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15
Q

Explain the Use of Economic Inequality Indicators to Measure Economic Development

A

Includes Lorenz curve, gini coefficient, poverty lines, minimum income standards, and the multidimensional poverty index.

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16
Q

Explain the Use of Social Inequality Indicators to Measure Economic Development

A 
Includes indicators such as:
• Adolescent fertility rates
• Gender inequalities
• Child malnutrition
• Child labor
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17
Q

Explain the Use of Energy Indicators to Measure Economic Development

A

Includes indicators in the dimensions:
• Social: share of households with/out electricity
• Economic: energy use per capita
• Environmental: air pollution from energy systems

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18
Q

Explain the Use of Enviornmental Indicators to Measure Economic Development

A

Description of developments affecting the environment (monitor changes to environmental objectives). Includes:
• CO2 emissions per capita
• Species threatened (brid/fish)
• Measure of ozone layer depletion

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19
Q

List the Composite Indicators used to Measure Economic Development

A

1) Human development index (HDI)
2) Inequality adjusted HDI (IHDI)
3) Gender inequality index (GII)
4) Happy planet index (HPI)

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20
Q

What is the Human Development Index (HDI)?

A

Multidimensional indicator that assess:
• Life expectancy at birth
• Mean years of schooling + expected years
• GNI per capita
The index is the average of the three dimensions (value is between 1-0, 0 being the worst)

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21
Q

What is the Inequality Adjusted HDI (IHDI)?

A

Measures human development in the same three dimensions as the HDI adjusting each for inequality.
• Higher inequality = bigger discrepancy with HDI

22
Q

What is the Inequality Adjusted HDI (IHDI)?

A

Measures inequalities between the genders within:
• Reproductive health (teen birth + maternal mortality)
• Empowerment (women in parliament + labor force)

23
Q

What is the Happy Planet Index (HPI)?

A

Measures well-being considering dimensions:
• Life expectancy
• People’s feelings of personal well-being
• Ecological footprint
• Adjustment to inequality

24
Q

What are the Disadvantages of the Approaches to Measure Economic Development?

A

• Indicators can present conflicting perspectives
• They are based on statistical information, therefore:
> data isnt fully available in some countries
> not all countries can collect data efficiently
> estimates can be used but are not accurate
> data collection methods vary between countries
> old data = cannot make accurate comparisons

25
Q

How is Economic Growth and Economic Development shown on the PPC?

A

G + little D = point moves to other position on PPC 1
G + no D = shift in PPC
G + D = shift in PPC + moves to position on line PPC 2

26
Q

List the Barriers to Economic Growth and Development

A

1) Poverty
2) Economic barriers
3) Social barriers

27
Q

What is the Poverty Cycle?

A

Arises when low income results in low savings hence permitting only low investments in physical, human and natural capital. This results in low productivity which again causes low income.

28
Q

Why is Poverty Transmitted across Generations?

A
  • Families cannot afford education for children
  • Families cannot afford health services
  • Large families for source of income (but provision)
29
Q

How can the Poverty Cycle be Broken?

A

Government intervention is required: must uptake investment in human capital (health services + education) physical (infrastructure) and natural (environment quality).

30
Q

List the Types of Economic Barriers

A

1) Rising economic inequality
2) Limited access to infrastructure and tech
3) Low levels of human capital (education + healthcare)
4) Dependence on primary production
5) Informal economy
6) Capital flight
7) Indebtedness
8) Geography and landlocked countries
9) Tropical climates and endemic diseases

31
Q

How is Rising Economic Inequality a Barrier to G&D?

A

Greater equality leads to more rapid G&D. Problems with inequality include: unequal opportunities in education, lower investment and consumption, political control by rich.

32
Q

How is Limited Access to Infrastructure a Barrier to G&D?

A

Infrastructure is important for the effective functioning of any economy as it provides G&S including power, sanitation and sewerage, roads, transport, etc. It is also important for poverty alleviation + many have positive externalities.

33
Q

How is Limited Access to Technology a Barrier to G&D?

A

Technologies must be appropriate to the country otherwise they are inefficient: capital-intensive technology may be inappropriate in developing countries where there is a higher amount of labor available.

34
Q

How are Low Levels of Human Capital a Barrier to G&D?

A

High levels of skills, abilities, knowledge and health in a population increase their productivity. Barriers to education increase poverty and inequality. Barriers to health decreases productivity/well-being of population.

35
Q

How is Dependence on Primary Production a Barrier to G&D?

A

Primary production yields primary products with volatile prices with low price elasticities (both PED + PES). As products prices fluctuate so does producer incomes, wages and investment. It also causes export earnings to be unstable.

36
Q

How is Limited Access to International Markets a Barrier to G&D?

A
  • Agricultural products face higher tariff barriers
  • Tariff barriers discourage having manufacturing
  • Rich countries make farm protection systems
  • Administrative barriers increase costs
37
Q

How is the Informal Economy a Barrier to G&D?

A

As workers are unregistered it poses the problems:
• Less tax revenue for government
• No worker protection (e.g. work hazards)
• No access to credit for workers
• Limited possibilities of education and training
• No social protection (e.g. pensions)

38
Q

How is Capital Flight a Barrier to G&D?

A

Large-scale transfer of privately owned financial capital to another country; causes loss of capital that could have been invested domestically. Furthemore:
• Depreciation of currency
• Debt problems (lack of foreign exchange)
• Lack of confidence in economy

39
Q

How is Indebetdness a Barrier to G&D?

A
  • Fewer resources to invest in domestic areas
  • Poor credit ratings (difficult to borrow)
  • Increases in taxes may be necessary (contractionary)
  • Lower private investment due to uncertainty
  • Debt trap
40
Q

How is Georgraphy a Barrier to G&D?

A

Transportation by sea is less expensive than by land hence countries that are land-locked are disadvantaged.

41
Q

How are Tropical Climate and Endemic Diseases a Barrier to G&D?

A

Higher temperatures reduce productivity and increase spread of endemic diseases (worsening health conditions). Furthermore, some locations are more affected by natural disasters.

42
Q

List the Types of Political and Social Barriers

A

1) Weak institutional framework
2) Gender inequality
3) Lack of good governance and corruption
4) Unequal political power and status

43
Q

What Factors are considered within Weak Institutional Framework?

A
  • Legal systems
  • Ineffective taxation system
  • Banking system
  • Property and land rights
44
Q

How are Inefficient Legal Systems a Barrier to G&D?

A

A well-functioning legal system must include equal access to all including vulnerable groups. This is necessary to eliminate poverty.

45
Q

How are Inefficient Taxation Systems a Barrier to G&D?

A

Tax revenues are needed by governments to invest in human capital, infrastructure and other projects. It can have negative impacts on equity, levels of revenue and resource allocation.

46
Q

How is Inefficient Banking a Barrier to G&D?

A

Banking contributes by:
• Provides incentives to save (savings = funds)
• Provide businesses and consumers with credit
• Credit available for poverty alleviation

47
Q

How can Property Rights be a Barrier to G&D?

A

Refers to regulations that define rights of ownership; it is risky to invest on land which ownership has not been legally secured. More secure property rights = more growth + improved access to credit as has collateral.

48
Q

In what Areas is Gender Inequality Significant?

A
  • Health and education
  • Labor market
  • Inheritance and property rights
  • Access to credit
  • Income, wealth and poverty
49
Q

How is Gender Inequality a Barrier to G&D?

A

Result in serious deprivation and limited access of women to social, economic and political opportunities. The empowerment of women results in external benefits increasing G&D.

50
Q

How is Corruption a Barrier to G&D?

A
  • Bribes make production more costly
  • Bribes are regressive
  • Less government revenue (bribes go to individuals)
  • Misallocation of resources
  • Prevents operation of competitive markets
  • Reduces hope of environmental sustainability
  • Damages people’s trust in the state.
51
Q

How is Unequal Political Power a Barrier to G&D?

A

Governments are challenged when undertaking policies which do not favor the elite.

52
Q

How is Political Instability a Barrier to G&D?

A
  • Creates uncertainty
  • Outflow of financial capital
  • Increases vulnerability to hunger and famine
  • Inability to continue policies consistently
  • Associated to low levels of income.

Economics (18 decks)

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