Development+Economics

Topic 4: Development
> > [] > @http://www.guardian.co.uk/global-development/millennium-development-goals >
 * Distinguish between economic growth and economic development.
 * multi-dimensional nature of economic development
 * most important sources of economic growth in economically less developed countries
 * relationship between economic growth and economic development
 * Common characteristics of economically less developed countries
 * Diversity among economically less developed nations
 * International development goals
 * barriers to growth

measuring development
• Compare and contrast the GDP per capita figures and the GNI per capita figures for economically more developed countries and economically less developed countries.
 * Distinguish between GDP per capita figures and GNI per capita figures.

• Distinguish between GDP per capita figures and GDP per capita figures at purchasing power parity (PPP) exchange rates.

Interesting article on export led growth though old (2009) []

consequences of growth


 * Barriers to growth**

Role of FDI
 * 4.5**
 * Nature of foreign direct investment (FDI) and multinational corporations (MNCs).
 * Reasons why MNCs expand into economically less developed countries.
 * Characteristics of economically less developed countries that attract FDI.
 * advantages and disadvantages of FDI

FDI explained media type="youtube" key="hxw_2m8X_yQ?feature=player_detailpage" height="200" width="320" Define aid Classification and types of Aid ( Humanitarian aid, development aid, tied aid) Who gives aid and why? ODA, NGO Evaluation of aid, how is aid different from trade Role of IMF and World Bank in promoting development (pages 487-491, Miller)
 * 4.6**
 * Foreign Aid**

Role of International Debt
 * 4.7**

What is foreign debt? How does servicing of international debt cause balance of payments problem?

Cost of high levels of debt 1. Foreign exchange earning are used up to service the debt, country is not able to import capital goods 2. The state is not able to spend on improving the infra structure 3. Welfare programmes suffer 4. Investment suffers since people fear that taxes will be raised

read: euroJournal on debt

Balance between intervention and market oriented policies
 * 4.8**

Growth theories