100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Summary Introduction to the Economics of Development $3.75   Add to cart

Summary

Summary Introduction to the Economics of Development

 14 views  0 purchase
  • Course
  • Institution

Summary Course : Introduction to the Economics of Development

Preview 4 out of 86  pages

  • June 16, 2024
  • 86
  • 2022/2023
  • Summary
avatar-seller
ECONOMICS OF DEVELOPMENT

C1 : FACTS AND FIGURES..................................................................................................................................... 3



C2 : INDICATORS AND ISSUES OF DEVELOPMENT............................................................................................... 6



C3 : ANALYSING DEVELOPMENT QUESTIONS ................................................................................................... 14



C4 : INSTITUTIONS AND ECONOMIC DEVELOPMENT ........................................................................................ 17



C6 : INSTITUTIONS AND LIBERALIZATION.......................................................................................................... 24



C7 : GEOGRAPHY AND HISTORY ........................................................................................................................ 28



C8 : THEORIES OF ECONOMIC GROWTH AND DEVELOPMENT ......................................................................... 36



C9 : POPULATION AND HUMAN CAPITAL.......................................................................................................... 41



C10 : MIGRATION .............................................................................................................................................. 46



C11 : HISTORY OF AID AND THE AID DEBATE .................................................................................................... 51



C12 : CREDIT MARKETS, MICROFINANCE AND FINANCING FOR DEVELOPMENT ............................................. 57



C13 : NATURAL RESOURCE CURSE .................................................................................................................... 62



C14 : AGRICULTURE & DEVELOPMENT ............................................................................................................. 70



C15 : FOOD AND HUNGER ................................................................................................................................. 76



C16 : ENVIRONMENT AND DEVELOPMENT ....................................................................................................... 81

,
, C1 : FACTS AND FIGURES

GLOBAL INEQUALITIES

four facts on global inequalities


I. large differences worldwide in quality of life
< indicators : life expectancy, child mortality, adult literacy, happiness, income (GDP per capita) …


II. differences are strongly linked to income
≈ correlation income and indicators life expectancy (+), literacy (decreasing marginal return) …
!! link ≠ necessarily linear
> economist often focus on income (proxy development)


III. everyone used to be poor
= converging world (convergence theory) : countries with lower levels of GDP per capita catch up to
countries with higher levels of GDP per capita
+ industrial revolution : increase knowledge and scale leading to exponential growth in income


IV. it’s getting better
= countries can become healthier, richer and happier
< economic growth is important!


HISTORY OF ECONOMIC DEVOLPMENT

Europe and North America constant economic growth

Latin America setback during 1980s (lost decade)

Japan and Four Tigers growth miracle in 1960s-1980s

Africa stagnation between independence and 1990s
stagnation/decline post-COVID

China strong growth since 1978; India: since 1990
result : millions lifted out of poverty

Former Soviet Union crash after end of communism

, economic growth started in the "west"

= W-EU first to experience continuous economic growth
< industrial revolution : more production of goods and services
+ political power (colonies as a result!)

Japan catches up

< 19th CE : JA imitating West (Meiji period)
< 20th CE : strong industrialization
< WWI : extremely strong economic growth after WWII

East Asia’s growth miracle

< Four Asian Tigers : spectacular growth during 1960s-1980s
(Hong Kong, Singapore, Taiwan, South Korea now high-income countries)
< others growing strongly as well (middle-income countries)
!! Asia was comparable to Africa until 1960s

China and India (Asia’s large economies)

< reforms with spectacular results in CH (1978 after death of Mao)
< big populations (1.4 billion and 1.3 billion)
< increasing amount of people being lifted out of poverty

Africa’s Growth Tragedy

- slow and negative growth since 1960s
- SSA hosts many of poorest countries (large differences and exceptions)

Latin America’s Difficult Growth

+ income growth acceptable rate until 1980
- lost decade (1980s) : debt crisis
- fundamental problems : high inequality > political struggle (elite / populists)


Great Experiments : Former Communist Countries
= former communists countries / strong government control
- communism did not work as expected :
incentive and information problems + economic problems
- mixed effects free market reforms : CH ⟷ SU and EA-EU

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller juliette5. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $3.75. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$3.75
  • (0)
  Add to cart