CH 6 - Development Without Trade Flashcards Preview

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Flashcards in CH 6 - Development Without Trade Deck (12)
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1
Q

Enclave agriculture

A

Export-oriented agriculture that has few linkages to the rest of the local economy.

2
Q

Structuralism

A

It held that the shift in resources from agriculture to manufacturing associated with industrialization would occur only if the state adopted policies explicitly designed to bring it about

3
Q

Complementary demand

A

A market failure structuralists believed would limit automatic industrialization

4
Q

Pecuniary externality

A

A market failure that was believed to limit automatic industrialization that arises from the independence not of economic activities

5
Q

Big push

A

The state would plan and coordinate a substantial large investment to solve the market failures that was believed to have inhibited rapid industrialization in developing societies.

6
Q

Singer-Prebisch theory

A

Claimed that developing countries faced a secular decline in their terms of trade, participation in the GATT would hamper their industrialization

7
Q

Terms of trade

A

The ratio of the price of a country’s exports to the price to its imports

8
Q

ISI

A

An economic development strategy in which states attempted to industrialize by substituting domestically produced goods for manufactured items that had previously been imported.

9
Q

Easy isi

A

First stage of isi that focused on developing domestic capacity to produce consumet nondurable manufactured goods

10
Q

Export substitution strategy

A

A development strategy in which labor-intensive manufactured goods produced as a consequence of easy isi would take the place of primary commodities in exports

11
Q

Secondary isi

A

the second stage of isi in which emphasis shifts to production of consumer durables, intermediate inputs such as steel and chemicals and capital goods

12
Q

Backward linkages

A

Refers to instances when the creation of a domestic industry increases demand in domestic industries that supply inputs to the original industry