Definition


Development Economics Terminologies



absolute poverty


absorptive capacity


accelerator


Adelman–Morris theory of growth and inequality


adjusted net savings


adjustment or structural adjustment


adverse selection


aid


antiglobalization


apartheid


appropriate technology


Asian borderless economy


Asian tigers


Association of South East Asian Nations (ASEAN)


backward linkages


balance of payments equilibrium


balance of trade


balanced growth


basic-needs approach


basis point


big push


bilateral aid


biodiversity


black market premium


bourgeoisie


Bretton Woods’ institutions


Bretton Woods’ system


buffer stock


capability


capital flight


capital goods


capital import


capital market


capitalism


capital stock


cartel


chaebol


civil society


classical theory


Coase’s theorem


coefficient of variation


commanding heights


commodity terms of trade


common market


common property resources


comparative advantage


comparison-resistant services


complete economic and monetary union


concessional funds


conditional convergence


conditionality


consumer price index (CPI)


contested markets


contingent valuation


convergence


corruption


cost–push inflation


crawling peg


creative destruction


crude birth rate


crude death rate


currency board


currency mismatch


current account


current expenditures

customs union

Davos


debt exchanges


debt-for-nature swap


Debt Reduction Facility


debt service

debt-service ratio


demand–pull inflation


democratization


demographic transition


dependency ratio


dependency theory


developed countries (DCs)


direct investment


direct taxes


dirigiste debate


disability-adjusted life years (DALYs)


discount rate


disguised unemployment


divergence


Doha Development Round


dollarization


dual economies


Dutch disease


economic growth


economic integration


economic liberalism


economic rent


economic union


economies in transition


effective rate of protection


elasticity of demand


elasticity of propoor growth


elasticity of supply


elasticity of the poverty gap with regard to the Gini index


elastic tax


endogenous


Engel’s law


entitlement


entrepreneurship


entropy


euro


eurocurrency


Eurodollars


European Bank for Reconstruction and Development (EBRD)


European Union accession countries

exchange control

exchange rate

exit option

exogenous

expected income

expenditure-reducing policies

expenditure-switching policies

export commodity concentration ratio

export purchasing power

external balance

external diseconomies

external economies

external (international) deficit

factor price distortions

factor proportions theory

factors of production

failed state

family-planning programs

Fel’dman model

financial intermediaries

financial liberalization

financial repression

fiscal incentives

fiscal policy

floating exchange rates

flow

foodgrain deficit

foreign exchange rate

formal sector

forward linkages

free riding

free trade area

fungible

GDP (gross domestic product)

GDP deflator

Gender-related Development Index (GDI)

General Agreements on Tariffs and Trade (GATT)

Genuine Progress Indicator (GPI)

Gini coefficient

globalization

global production networks (GPNs)

global public goods

GNI (gross national income)

GNP (gross national product)

GNP deflator

Golden Age of Capitalist Growth

Grameen Bank

green markets

Green Revolution

green taxes

greenhouse gases

group lending

Group of Eight (G-8)

Group of Seven (G-7)

Group of 10 (G-10)

Group of 77

Harris–Todaro model

hawala system

head-count approach to poverty

Heckscher–Ohlin theorem

hedging

high-income countries (HICs)

HIPC (highly-indebted poor countries’) initiative

historical materialism

household responsibility system

human capital

Human Development Index (HDI)

hyperinflation

ICOR (incremental capital output ratio)

IDA-eligible countries

import substitutes

impossibility theorem

impossible trinity

income elasticity of demand

income-gap approach to poverty

incomes policy

income terms of trade

indicative plan

indirect taxes

individual economy

indivisibilities

industrial concentration ratio

industrial countries

infant industry arguments

inflation

inflationary expectations

inflation targeting

inflation tax

informal sector

information and communications technology (ICT)

infrastructure

innovation

input–output table

institutions

institutional wage

intellectual property rights (IPR)

intermediate technology

internal balance

international balance of merchandise trade

international balance of payments statement

international balance on goods and services

International Development Association (IDA)

international economic order

International Monetary Fund (IMF)

international network of agricultural research centers

inverted U-shaped curve

investment

invisible hand

iron law of wages

keiretsu

kleptocracy

Keynesian theory of income and employment

kulaks

Kuznets curve

labor participation rate

labor supply elasticity

laissez-faire

law of diminishing returns

learning curve

least developed countries (LLDCs)

less-developed countries (LDCs)

Lewis–Fei–Ranis model

liberalism

liberalization

LLDCs

London Club

London Interbank Offered Rate LIBOR

Lorenz curve

low-income countries (LICs)

macroeconomic stabilization

Malthusian view

managed floating exchange-rate system

marginal abatement cost (MAC)

marginal damage (MD)

marginal revenue productivity of labor

market friendly

market socialism

material balance planning

middle-income countries (MICs)

“missing” women

modern economic growth

monetary policy

monopolistic competition

monopoly

monopoly advantages

monopoly rents

moral hazard

multilateral aid

multinational corporations (MNCs)

negative externalities

negative real interest rate

neoclassical counterrevolution

neoclassical theory of growth

neoclassicism

neoliberalism

net primary productivity (NPP)

net transfers

new (endogenous) growth theory

newly industrializing countries (NICs)

nomenklatura system

nongovernmental organizations (NGOs)

oligopoly

$1 per day poverty

Organization for Economic Cooperation and Development (OECD)

Organization of Petroleum Exporting Countries (OPEC)

O-ring theory of economic development

overvalued currency

parastatal enterprises

Paris Club

patronage

patron–client system

peasants

perestroika

Physical Quality of Life Index (PQLI)

policy cartel

political elite

political inflation

population age pyramid

population momentum

portfolio investment

Porto Alegre

poverty line

poverty-weighted index

Prebisch–Singer thesis

preconditions stage

predatory ruler

predatory state

preferential trade arrangement

present (discounted) value (V )

price elasticity (of demand)

(P) price level of GDP

price of foreign exchange

primary products

privatization

product cycle model

production function

productivity paradox

progressive tax

property rights

Protestant ethic

public enterprise

public goods

Purchasing Power Parity (PPP)

ratchet inflation

real domestic currency appreciation

real domestic currency depreciation

real economic growth

real exchange rate

recurrent expenditures

regional integration

regressive tax

remittances

rent seeking

replacement-level fertility

reserve army of the unemployed

residual

risk

risk premium

rules of origin

seigniorage

shadow price

sharecropping

“shock therapy”

single factoral terms of trade

social benefit–cost analysis

social capital

social goods

socialism

socialization

social profitability

social safety net

soft budget constraint

special drawing rights (SDRs)

stabilization

stagflation

Stalinist development model

standard deviation

state failure

state legitimacy

state-owned enterprise (SOE)

stationary population

stationary state

stock

structural adjustment

structural economists

surplus

sustainable development

takeoff

target variables

tariff rate

technical progress

technology

terms of trade

theory

third world

Tobin tax

total external debt (EDT)

total factor productivity (TFP)

total fertility rate (TFR)

township and village enterprises (TVEs)

trade creation

trade diversion

“tragedy of the commons”

transactions costs

transparency

turnkey projects

$2-per-day poverty

unbalanced growth

uncertainty

unconditional convergence

underemployment

unemployment

United Nations Conference on Trade and Development (UNCTAD)

unlimited supply of labor

urban bias

Uruguay Round

usufruct

value-added

value-added tax (VAT)

variance

vertical integration

vicious circle

virtuous circle

voice option

Wagner’s law

Washington consensus

workfare

World Bank (International Bank for Reconstruction and Development or IBRD)

World Economic Forum

world’s middle class

World Social Forum

World Trade Organization (WTO)

worker-managed socialism

zero marginal revenue productivity of labor


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