Global Economic Disparities and Development Theories Quiz

Developed economies typically have low infant mortality rates due to advanced healthcare systems.

The World Bank releases the World Development Report annually, analyzing global development trends and challenges.

East Asia, including countries like South Korea and Singapore, experienced rapid industrialization and economic growth, earning the 'Asian Tiger' label.

The Gini coefficient is a widely used metric for assessing income inequality within a population.

Globalization involves the interconnectedness of economies worldwide through trade, investment, and technological exchange.

Dependency theory posits that historical colonialism and ongoing exploitation contribute to economic inequalities.

Neoliberalism highlights the importance of free market principles and trade liberalization for economic advancement.

Rostow's theory suggests that countries pass through distinct stages of economic growth on their path to development.

Sen's Capability Approach emphasizes expanding people's freedoms and opportunities, beyond mere economic growth.

SAPs often involve privatizing state-owned enterprises as part of restructuring measures advised by the IMF and World Bank.

The Washington Consensus was promoted by the World Bank and IMF, advocating for market-oriented reforms in developing countries.

While the Gini coefficient measures income inequality, it's not directly included in the HDI calculation, which focuses on life expectancy, education, and income.

Brain drain describes the loss of skilled labor from developing nations, often to more developed countries, exacerbating economic disparities.

Raúl Prebisch introduced the Theory of Unequal Exchange, suggesting that trade between developed and developing nations often favors the former, perpetuating inequalities.

Modernization theory considers historical and cultural factors as influential in determining a nation's development trajectory.