Development

• Development

  The use of resources to improve the quality of life in a country.
• Gross National Product

  The total value of goods and services produced by a country in a year, plus income earned by the country's residents from foreign investments and minus income earned within the domestic economy by overseas residents.
• Gross National Product per capita

  The total GNP of a country divided by the total population.
• Development gap

  The differences in wealth, and other indicators, between the world's richest and poorest countries
• Human Development index (HDI)

  
  

  Combines four indicators of development: life expectancy at birth; mean years of schooling for adults aged 25 years; expected years of schooling for children of school entering age; GNI per capita (PPP$)
• Least developed countries (LDCs)

  The poorest of the developing countries. They have major economic, institutional and human resource problems
• Newly industrialised countries (NICs)

  Nations that have undergone rapid and successful industrialisation since the 1960s.
• Gini coefficient

  Technique used to show the extent of income inequality
• Cumulative causation

  The process whereby a significant increase in economic growth can lead to even more growth as more money circulates in the economy.
• Formal sector

  That part of an economy known to the government department responsible for taxation and to other government offices.
• Informal sector

  That part of the economy operating outside official recognition.
• Product chain

  The full sequence of activities needed to turn raw materials into a finished product.
• Globalisation

  The increasing interconnectedness and interdependence of the world economically, culturally and politically.
• Transnational corporation TNC

  A firm that owns or controls productive operations in more than one country through foreign direct investment (FDI).
• Diffusion

  The spread of a phenomenon over time and space.
• Internet

  A group of protocols by which computers communicate.
• New international

  division of labour (NIDL

  Divides production into different skills and tasks that are often spread across a number of countries
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• Stages of development


  • Least developed
  • Most developed
• Development gap


  The difference in levels of development between the least developed and most developed countries in the world
• Factors affecting development and human welfare

  • Physical geography
  • Landlocked countries
  • Small countries
• Landlocked countries find trade more difficult and so often develop more slowly
• Small countries develop more slowly due to have fewer human and natural resources
• All countries move through the different stages of development
• Stages of Development


  The UN identifies four main stages of development
• Factors Affecting Development and Human Welfare

  • Physical geography
  • Demography
  • Technology
  • Social
  • Government policies
• Physical geography


  • Landlocked countries find trade more difficult and so often develop more slowly
  • Small countries develop more slowly due to have fewer human and natural resources
  • Those countries with extreme climates develop more slowly
  • The physical geography also impacts on the natural resources available
• Natural resources


  Those things provided by the physical environment
• Natural resource uses


  • Water (domestic use, energy)
  • Forests (timber, habitat, rubber, recreation, food, medicines)
  • Fossil Fuels (fuel, energy)
  • Soil (growing crops)
  • Rocks (construction)
  • Minerals (glass, jewellery, money)
  • Animals (food, skins)
• Some countries are able to meet all their needs from the natural resources they have
• Many countries have to import some natural resources that are not available within their borders
• Water, food and energy security


  Particularly important to support a country's development
• Demography


  The population structure of a country
• The birth and death rates, as well as immigration, affect the available workforce
• Those countries where birth rates have fallen the most, show the highest rates of growth
• Technology


  • Can help to increase water, food and energy security
  • Mechanisation of farming increases yields and improved land surveying may reveal more energy sources
  • Technology can also mean that existing resources are used more efficiently
• Social


  • Levels of education affect the skills people have. The more educated a population is the more a country will develop
  • Healthcare affects how well people are which affects their ability to work
  • Lack of equality can mean that the overall productivity of a country is affected
• Government policies


  • The stability and effectiveness of government can have a significant impact on development and human welfare
  • Development and human welfare are greatest where there is a democratically elected government
  • Corrupt governments do not invest in the country's development or in improving the quality of life for the population
  • A government's economic policy affect development and human welfare through: Open economy - where foreign investment is encouraged, which generates faster development; Higher rates of saving and lower spending compared to GDP, results in further development