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L8 - SFU ECON102 Spring 2011 Lecture#8 Development and...

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SFU ECON102 Spring 2011 Lecture #8 Development and Growth Economic growth = an increase in GDP Economic development = ways to increase GDP Development in a broader sense: not only GDP,but also include HDI UNDP ( United Nations Development Program) happiness education How to measure development: Traditional economic measures = GDP GNP Traditional social measures = gains in literacy, schooling, health conditions Newer social measures = Objectives of development:
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1. Availability of basic life sustaining goods: food helter, health protection o Improvement in levels of living: more jobs, better education, greater attention to cultural and human values   o Better economic and social choices   o To individual and nation   o o 2. Defining the developing world o The classification of the world band   o Ranking by gross nationa income per capita   o Low-income, lower middle income,upoer-middle imcome, high- imcome OECD, and other high-imcome courntries   o 3. How to define who is developed and who is not:
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1. Classification by income   1. By the level of indebtedness   1. By HDI   What makes countries different: 1. The size of the country (geographical area, population, income)   o The sheer physical size of a country, the size of its population, and its level of national income are major factors that differentiate one nation from another   o No necessary relationship between a country's size and its level of national income   2.Its historical background o The European colonial powers o The modeling of institutiona creations of different social parrerns   o Daron Acemogle et al.: the colonial origins of comparative development(2001)   o o
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3.Its endowments of physical and human resources o Endowments of physical resources: land, raw materials   o Human recources:numver of people and their level of skills- but also their attitudes toward work , willlingness to innoavete, access to information, cultural outlooks   4.Its ethnic and religious composition o Diversity may lead to conflict or cooperation o E,g: Canada and Afghanistan( or Iraq, or Haiti, or Sri Lanka) o 5. The relative importance of private and public sectors
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