Sustainable development
This term describes development that meets the needs of the present without compromising the ability of future generations to meet their own needs
Sustainable development
This single composite index combines life expectancy, education, and GNI per capita to rank countries by human development
Human development index (HDI)
Low income → low savings → low investment → low productivity → low income, trapping countries in poverty.
Poverty cycle
This market-oriented strategy encourages countries to reduce barriers and integrate into the global economy through trade and foreign investment
Trade liberalisation
These are the three pillars of sustainable development: the environmental, the economic, and this third one
Social
Unlike the HDI, this adjusted index penalises countries for inequality within their populations
Inequality-adjusted Human Development Index (IHDI)
When countries rely on exporting one or two primary commodities, they face this type of risk if global prices fall
Over-reliance on primary exports
A type of aid, provided by one government directly to another
Bilateral aid
When economic growth depletes natural capital faster than it can be regenerated, economists call this type of growth
Unsustainable growth
This index measures the difference in achievements between men and women in health, education, and labour market participation
Gender inequality index
Countries are trapped in poverty, partly due to geographic factors like landlocked position or tropical disease burden
Geographic barriers to development
The government protects domestic industries from foreign competition using tariffs and quotas until they are strong enough to compete globally
Infant industry protectionism
This United Nations framework set 17 global goals in 2015 to end poverty, protect the planet, and ensure prosperity for all by 2030
The Sustainable Development Goals (SDGs)
What is it when someone earns less than $2.15 per day in purchasing power parity terms
Extreme poverty
When high debt repayments crowd out government spending on education and health
Debt burden
This type of aid requires the recipient country to spend the money on goods or services from the donor country
Tied aid
The ability of an economy to respond to or withstand exogenous shocks and to continue to function and support thriving communities.
Economic resilience
What compares economic productivity and standards of living between countries on the basis of relative costs of goods and services
Price purchasing parity (PPP)
A barrier in which a country's legal and regulatory framework is poorly enforced, property rights are weak, and corruption is high
a type of government expenditure that is not in exchange for goods and services. Often, they are used to redistribute income and support the poor.
Transfer payments