Concept 1
The irony that the countries with abundant and valuable natural resources tend to remain poor is called
What is resource curse?
Colonial powers' arbitrary craving of colonies in Africa led to what kind of conflict or division
what is ethnic conflict?
In general, landlocked countries tend to remain poor. True or False?
What is True?
As colonial settlers were more likely to die of disease, they engaged in more predatory policies, extracting resources to send to the metropole. This caused poverty in which region of the world?
What is Africa?
In hospitable climates, settlers moved in and established political institutions that set the stage for successful economic development. This explains the development of which region of the world?
Development model that encourage domestic industry and trade barriers
What is import substitution industrialization?
Development model that prioritized export-based industries is called
What is export oriented industrialization?
Development model that prioritized capital inflows, removal of trade barriers, and helped foreign investors is called
What is Washington Consensus?