KEY DEFINITIONS
- smith6230
- Feb 3, 2016
- 1 min read
Some key theorys and facts in this section where
Development Theory: relyys on economic growth, started in 1949 when President Truman stated that poverty threatend true prosperity. It also hinges on that less developed nations need to catch on on this linear economic growth path.
Dependency Theory: underdevelopment is not the result of inadquencies in economics, but rather the outcome of development elsewhere.
SAP: Structural adjusment programs created by IMF and WB used to modify the structure of economy.
Debt crisis: Started in 1980 countries such as Brazil, Mexico could no longer service there depts which impacted developed countries by the international demand going down.
1996 Asian Crisis: Thailand devalued their currency which caused international investors o withdraw large portions of capital, this lowered economic growth for the countrie and other surrounding countries.
Post Development Schools: A discource and set of practices, rather than a structure of production or trade market, such as development theory and/or neo-liberalism.
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