First, the indicator of official development assistance is only suitable in the short run period. Second, the gross domestic product will continue to decline if continuous trade deficit pervades in the long run period. Related Articles:. Home References Article citations. Journals A-Z. Journals by Subject.
Publish with us. Contact us. Related Articles: Open Access. Economic Development: Threats and Opportunities. Economic Development —the leading textbook in this field—provides students with a complete and balanced introduction to the requisite theory, driving policy issues, and latest research. Todaro and Smith take a policy-oriented approach, presenting economic theory in the context of critical policy debates and country-specific case studies so students see how theory relates to the problems and prospects of developing countries.
The eleventh edition offers new sections on the global financial crisis and violent conflict. Amajor new section of the text addresses potential long-term impacts of the recent global financial crisis on economic development, examining conditions that caused the crisis, its aftermath, and possible broader implications and potential differences for developing nations and regions.
The Eleventh Edition provides an entirely new major section on the causes and consequences of violent conflict, postconflict recovery and development, and prevention of conflict through an improved understanding of its major causes. Two new full-length end-of-chapter comparative case studies are introduced to address current topics and findings and to broaden geographic coverage. All the other case studies have been revised to reflect current conditions and status, including an update on the experience of the Grameen Bank, now appearing in Chapter Measurement is an ever-present issue in the field of economic development.
The text examines the index formulas, explains how they differ from earlier indexes, reports on findings, and reviews issues surrounding the active debate on these measures. As with all the theories, measures, evidence, and policy prescriptions examined throughout the text, the value of each contribution and critiques by other analysts are presented.
Insights from multiple equilibrium economic development models help explain the persistence of violent ethnic conflict and of harmful cultural practices such as female genital mutilation while at the same time indicating how the use of these frameworks has helped inspire strategies for ending these practices.
Each term of significance to the topic of economic development is highlighted in the text and defined in the margin at the spot where it is first used. All these terms are also presented alphabetically in the Glossary at the back of the book.
Change continues to occur very rapidly in the developing world. Throughout the text, data and statistics have been updated to reflect the most current available information.
Pearson offers affordable and accessible purchase options to meet the needs of your students. Connect with us to learn more. Michael P. He lived and taught in Africa for six years. Higher Level of Inequality and Absolute Poverty.
The scale of global inequality is immense. Other than enormous gap in per capita incomes between rich and poor nations, the gap between rich and poor within individual developing countries is necessary tp be looked at. Development economist use the concept of absolute poverty — the situation of being unable or only barely able to meet the subsistence essentials of food, clothing, shelter and basic health care — to represent a spesific minimum level of income needed to statisfy the basc physical needs in order to ensure continued survival.
Higher Populatin Growth Rates. Rapid population growth begin in Europe and other now developed countries. But in recent decades, most population growth has been centered in the developing world. Compared with mot developed countries, the low-income developing countries have very high birth rates more than five-sixths of al people in the world now live in developing countries.
Greater Social Fractionalization. Low-income countries often have ethnic, linguistic, and other forms of social divisions, sometimes known as fractionalization. The greater the ethnic, linguistic and religious diversity of a country, the more likely it is that there will be internal strive and political instability.
Conflict can derail what had otherwise been relatively positive development progress. If development is about improving human lives and providing a widening range of choice to all peoples, racial, ethnic, caste od reigious discrimination is pernicious. The ethnic and religous composition of a developing nation and whether or not that diversity leads to conflict or cooperation can be important determinants of the success or failure of developent efforts.
In developing countries, a much higher share of the populaion lives in rural areas. Although modernizing in many regions, rural areas are poorer and tend to suffer from missing markets, limited information, and social stratification. Lower Levels of Industrialization and Manufactured Exports. Industrialization is associated with high productivity and incomes and has been a hallmark of modernization and national economic power.
Most developing country governments have made industrialization a high national priority. Along with lower industrialization, developing nations have tended to have a higher dependence on primary exports. Most developing countrie have diversified away from agricultural andmineral exports to some degree. The middle-income countries are rapidly catching up with the developed world in the share of manufactured goods in their expors. Adverse Geography.
Many analysts argue that geography must play some role in problems of agriculture, public health, and comparative underdvelopment more generally. Underdeveloped Markets. Some aspects of market underdevelopment are that they often lack:. Developing countries have also been well organized and influeantal in international realations. More generally, developing nations have weaker bargaining postions than developed nations in international economic relations, and also voice great concern over various of cultural dependence, from news and entertainment to bussiness practices, lifestyles and social values.
Physical and Human resources Endowments. Contemporary developing countries are often less well endowed with natural resources than the currently developed nations were at the time when the latter nations began their modern growth. The people living in low-income countries hae, on average, a lower level of real per capita income than their developed country counterparts had in the nineteeth century.
Climatic Differences. Almost all developing countries are situated in tropical or subtropical climatic zones. There is evidrnce thet tropical geography does pose significant problems for economic development and that special attention in development assistance must be given to these problems. Population Size, Distribution and Growth. Before and during their early growth years, western nations experienced a very slow rise in population growth.
By contrastm the population of many developing countries have been increasing, and some are still rising that fast today. The Historical Role of International Migration. Where developing countries are successful at becoming lower-cost producers of competitive products with the developed countries, the latter have often resorted to various fors of tariffs and nontariff barriers barriers to trade. Efficiacy of Domestic Institutions.
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