Listing of Terms, 2015 - Introduction to Economic Development

Listing of Concepts and Terms for Review for
ECON 3508, 2015 Introduction to Economic Development
This list was compiled mainly by E. Newman-Grigg, with additions and some
deletions by A, Ritter. It is based on the listings of terms at the end of each
chapter in the course text book and modified in the light of the class lectures and
Power Point Presentations.
Chapter 1 Introduction to Economic Development: A Global Perspective
Absolute Poverty
Capability” Approach to conceiving of “development”
Developing countries
Development economics
Economic Development
Economic Growth
Genuine progress indicator
Gross domestic product
GDP per capita “Purchasing Power Parity”
Gross national income (GNI)
Human Development Index
Human Poverty Index
Income per capita
Less developed countries
Millennium Development Goals (MDGs)
More developed countries (MDCs)
Political economy
Social system
Subsistence economy
Traditional Economies
Poverty Traps
Interacting Vicious Circle
The “Convergence” Issue
Chapter 2 Comparative Economic Development
Absolute poverty
Brain drain
Capital stock
Crude birth rate
Dependency burden
Depreciation (of the capital stock)
Diminishing marginal utility
Economic institutions
Free trade
Gross domestic product (GDP)
Gross national income (GNI)
Human capital
Human Development Index (HDI)
Imperfect market
Incomplete information
Least developed countries
Low-income countries (LICs)
Middle-income countries
New Human development index
Newly industrializing countries (NICs)
Property rights
Purchasing power parity (PPP)
Research and development (R&D)
Resource endowment
Terms of trade
Value added
World Bank
Chapter 3 Classic Theories of Economic Growth and Development
Center-Periphery Model
Closed economy
Comprador groups
Dependence Theorizing
Economic Dualism
False-paradigm model
Free-market analysis
Harrod-Domar growth model
Incremental Capital Output Ratio
Lewis two-sector model
Marginal product
Market failure
Market-friendly approach
Necessary but Insufficient Condition
Neoclassical counterrevolution
Neocolonial dependence model
Open economy
Patterns-of-development analysis
Production function
Public-choice theory
Self-sustaining growth
Social Capital (as a factor of production?)
Stages-of-growth model of development or “Stage” Theorizing
Structural-change theory
Structural transformation
Surplus labor
Chapter 5 Poverty, Inequality, and Development and UNDP MDG and SDG
Absolute poverty
Elasticity of factor substitution
Functional distribution of income
Gini coefficient
Headcount index
Income inequality
Kuznets curve
Kuznet’s inverted “U” hypothesis
Land reform
Lorenz curve
Millennium Development Goals and Targets
Multidimensional poverty index (MPI)
Neo-liberal or “Washington Concensus”
Personal distribution of income
Progressive income tax
Pro-Poor Growth
Redistribution policies
Sustainable Development Goals (SDGs)
Total poverty gap (TPG)
United Nations Millennium Declaration (2000)
Workfare programs
Chapter 6 Population Growth and Economic Development: Causes, Consequences,
and Controversies
Crude birth rate
Death rate
Demographic transition
Demographic Window of Opportunity
Demographic Momentum
Family-planning programs
Hidden momentum of population growth
Life expectancy at birth
Malthusian population trap
Microeconomic theory of fertility
Natural increase
Net international migration
Population-poverty cycle
Population pyramid
Rate of population increase
Replacement fertility
Reproductive choice
Theory of the Demographic Transition
Total fertility rate (TFR)
Under-5 mortality rate
Youth dependency ratio
Chapter 8 Human Capital: Education and Health in Economic Development, plus
Informal Sector and Entrepreneurship
Acquired immunodeficiency syndrome (AIDS)
Conditional cash transfer (CCT) programs
Educational certification
Educational gender gap
Epidemiological Transition
Health system
Health-adjusted Live Expectancy
Human capital
Human immunodeficiency virus (HIV)
Infant and child mortality
Maternal Mortality
Mortality and Morbidity
Neglected tropical diseases
Private benefits and Private costs
Social benefits and Social costs
World Health Organization (WHO) definition of “Health”
Activities of Entrepreneurs
Deformation of Entrepreneurship
Enterprise creating role
Foundations of the Private Sector
Gap-filling role
Input-completing role
Market connecting role
Pillars of entrepreneurship
Informal Sector
Barriers to Entry
Criminal economy
Formal Sector or Economy
Home-based enterprise
Household Economy
Last resort informal sector activities
Underground or Shadow Economies
Chapter 11 Development Policymaking and the Roles of Market, State and Civil
Society (pg. 541-546 and 554-582)
Comprehensive Plan
Consumer sovereignty and producer’s sovereignty
Economic infrastructure
Economic planning
External costs and benefits
Government failure
Market failure
Market mechanism
New Consensus
Nongovernmental organizations (NGOs)
Not-for-Profit Activities or Sector
Public goods
Public Sector failure
Rent seeking
Social and Private Cost-benefit analysis
Social Control of Economic Activity
Voluntary sector failure
Washington Consensus
Chapter 9 Agricultural Transformation and Rural Development
Agrarian system
Anti-poverty types of investment
Cash crops
Consultative Group on International Agricultural Research
Diversified farming
Farms: commercial farms, plantations, family farms, co-operatives and state farms
Green Revolution
Integrated rural development
Land reform
Latifundia and Minifundia
Medium-size farm
Shifting cultivation
Slash and burn farming
Specialized farming
Staple food
Subsistence farming
Tenant farmer
Theory of the optimizing peasant
Transaction costs
Urban Bias
Urban Gigantism
Urban informal Sector
Chapter 7 Urbanization and Rural-Urban Migration: Theory and Policy
Agglomeration economies
Central Place Hierarchies
Efficiency wage
First City Dominance
Induced migration
Internal Migration
Labor turnover
Localization economies
Present value
Push and Pull Factors
Rural-urban migration
Social capital
Todaro migration model
Urban bias
Urbanization economies
Wage subsidy
International Migration
Brain Drain and Brain Gain
Diaspora Development Initiatives
Migratory Process
Push and Pull Factors
Social and Private Costs and Benefits
Varieties of International Migration
Chapter 12: International Trade Theory and Development Strategy
Absolute advantage
Capital account
Commodity terms of trade
Common market
Comparative advantage
Curse of Resource Wealth
Customs union
Depreciation (of currency) and devaluation
Dutch Disease
Economic integration
Economic union
Effective rate of protection
Enclave economies
Export dependence
Export diversification
Export earnings instability
Export Processing Zone
Export promotion
Factor endowment trade theory
Factor price equalization
Free trade
Free-market exchange rate
Free-trade area
Gains from trade
Import substituting industrialization
Income elasticity of demand
Infant industry
International commodity agreement
Inward-looking development policies
Multilateral trade liberalization
New protectionism
Nominal and effective rates of protection
Nontariff trade barrier
Oligopolistic market control
Outward-looking development policies
Overvalued exchange rate
Petroleum Economy Syndrome
Prebisch-Singer hypothesis
Price elasticity of demand
Primary commodity trade
Product cycle
Product differentiation
Production linkages: backward, forward and final demand
Regional Economic integration
Regional trading bloc
Resource Economy Syndrome
Returns to scale
Tariff, subsidies and quotas
Trade creation and trade diversion
Trade liberalization
Trade optimists and trade pessimists
Undervalued exchange rate
Vent-for-surplus theory of international trade
Development Assistance
Absorptive capacity
Concessional Loans
Development Assistance
Foreign “AID”
Global Affairs Canada-Development (formerly CIDA)
Multilateral Development Assistance
Nongovernmental Organizations
Official Development Assistance (“ODA”)
Tied Aid