International Development&Economic Challenges

High consumption, high levels of education, health services, and social welfare nets.

• Global South

• Global North

Struggle with basic needs, poor educational and health services, no welfare nets.

• Global South

• Global North

The difference in development between countries; indicated in the Human Development Index.

• Development Gap

• BRICS

• Development Trap

• Colonialism and Industrialization

Constructivist focus the problem on:

• Money

• History

• Markets

• Ideas

Privatization of the economy>> reduction of governmental fiscal burden >>increase in spending in education and health

• Washington Consensus

• Beijing Consensus

Measure countries had to take during the 1980s, so the IMF would give out longer-term loans, including economic reforms, trade liberalization reforms, government reforms, private sector policies.

• Sustainable Development Goals

• Structural Adjustment Programs

• Fiscal policy

• Microfinance

Incorporates concern for renewable resources and the environment.

• Sustainable Development

• Economic reform

• Washington Consensus

• Beijing Consensus

Which region was most benefitted by the Heavily Indebted Poor Countries Initiative, pushed by the Jubilee 2000?

-Debt relief under the condition of submitting plans to channel debt savings into poverty-reduction programs-

• Latin America

• South East Asia

• Eastern Europe

• Africa

When did the World Bank discontinue structural performance criteria for loans in response to critics and a world wide crisis?

• 1929

• 1982

• 2009

• 2014

Which ideas became acceptable in the IMF after the 2008 recession?

• States taking a proactive role in coordinating development.

• Establishing a floating exchange rate.

• Establishing a fixed exchange rate.

• States letting market behavior mitigate international economy.