Econ Dev 4

Econ Dev 4 - ECON 314 Sept. 20 Development Traps conflict...

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ECON 314 Sept. 20 Development Traps conflict natural resources landlocked with bad neighbours bad governance in a small country BUT catching up! “radically raising growth in the countries now at the bottom” however there are impediments: by global market conditions (growth is constrained by external factors) bottom billion development gives hope to people that their next generation will live in a society that is on par with the rest of the world change has to come from within societies of the bottom billion to bring them up to the same level policies could make these efforts more likely to succeed concentrated and coordinated intergovernmental approach is needed basic indicators of development: real income GNP = total domestic and foreign value added (value added by a firm is the difference between its revenues and the cost of good that it buys from other firms) claimed by a country’s RESIDENTS GDP = total value added produced by residents and non-residents of an economy, also equals
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This note was uploaded on 11/02/2011 for the course ECON 314 taught by Professor Rakovski during the Fall '11 term at McGill.

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Econ Dev 4 - ECON 314 Sept. 20 Development Traps conflict...

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