Economic Development

Population Trap
A scenario where rapid population growth hinders any improvement in living standards due to the necessity of all available savings to maintain the current capital–labour ratio.
Enterprise Zone
An area subject to special treatment by the government to encourage investment and employment.
Research and Development (R&D)
An exploration of the term 'Research and Development (R&D)', focusing on its definition, historical context, major analytical frameworks, and case studies.
Take-off
The stage of economic development at which an economy becomes capable of sustained growth in per capita income.
Capital Market
Institutions where securities with an expected maturity of a year or more are bought and sold.
Colombo Plan
The Colombo Plan for Cooperative Economic and Social Development in Asia and the Pacific
Demographic Transition
The process in which the relationship between income per capita and population growth reverses from positive to negative due to economic development.
Depressed Area
An economic term referring to a region with persistently higher unemployment and lower per capita incomes.
Developing Countries
An in-depth overview of the economic term 'developing countries,' often referred to as less developed countries (LDCs).
Development Economics
Understanding the process of economic development and its impact on less developed countries
Dual Economy
An in-depth examination of an economic structure where modern industries coexist with traditional sectors.
Industrialization
The process of moving resources into the industrial sector, vital in early economic development stages.
Infrastructure - Definition and Meaning
Detailed entry for the term 'infrastructure' within economic contexts, discussing its definition, historical context, and surrounding concepts.
International Bank for Reconstruction and Development (IBRD)
An international financial institution established in 1946 to promote economic recovery and development, particularly in least developed countries (LDCs).
International Development Association (IDA)
Understanding the International Development Association (IDA), its role, historical context, and impact on economic development.
International Labour Organization (ILO)
An overview of the International Labour Organization, a specialized agency of the United Nations focused on labor issues, social justice, and human and labor rights.
Kuznets Curve
A curve depicting the change in inequality over time during the process of economic development.
Objective 1 Region
A region in the European Union with under 75% of the average EU per capita income, eligible for financial assistance.
Picking Winners
The idea that governments can promote economic development by selecting particular projects for financial and technical support.
Planning Permission
Permission granted by authorities to use land for specific purposes, often increasing land values when transferred to more profitable uses.
Poverty Trap
A situation in which poverty outcomes reinforce themselves, acting as causes of poverty.
Prebisch Thesis
A claim that the terms of trade between primary products and manufactured goods deteriorate over time, suggesting that countries exporting primary commodities should establish manufacturing industry to counteract adverse effects.
Regional Policy
Policies aimed at enhancing the economic conditions and development of specific regions within a country or a group of countries.
Stages of Economic Growth
The theory that countries develop through a series of modes of economic organization, each leading to the next.
Stagnation
A situation in which there is little or no change in techniques or income levels.
Tennessee Valley Authority (TVA)
The Tennessee Valley Authority (TVA) is a US public corporation established in 1933 as part of the New Deal, focusing on power supply, flood control, natural resource development, tourism, and training.
trade not aid
A slogan advocating trade liberalization over direct aid for the advancement of less developed countries (LDCs).
Turnkey Project
An in-depth look into turnkey projects, their structure, benefits, and place in economic theory and practice.
Under-developed Countries
A comprehensive entry on under-developed countries, offering definitions, historical context, and analytical frameworks.