Differences in economic development
Introduced| English | Meaning |
|---|---|
| development/dɪˈveləpmənt/ | A process of growth, change or increasing complexity over time. |
| developed/dɪˈveləpt/ | High income/health/education. |
| income per head/ˈɪŋkʌm pɜː hed/ | income per head |
| developing/dɪˈveləpɪŋ/ | developing |
| infrastructure/ˈɪnfrəstrʌktʃə/ | Basic facilities and networks, such as transport, energy and communications, that support economic and social activity. |
| productivity/ˌprɒdəkˈtɪvɪti/ | Output produced per unit of input over a given period. |
| foreign investment/ˈfɒrən ɪnˈvestmənt/ | foreign investment |
| aid/eɪd/ | Resources or assistance supplied to support people, governments or organisations, often for development or relief. |
Why some countries are richer
- A child born in one country may expect a long, prosperous life; one born elsewhere faces poverty and short life expectancy.
- Economics asks why development 发展 differs so much.
Development chain lab
Follow how policy and resources can change living standards.
Compared with developing countries, developed countries typically have:
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Developed economies have higher income, health and education.
Developing countries tend to have faster population growth than developed ones.
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Higher birth rates are typical of developing economies.
Measuring development
- Developed 发达的 countries: high income per head 人均收入, good health and education, advanced industry.
- Developing 发展中的 countries: lower income per head, faster population growth, more farming.
A developed economy: high incomes support a modern city of offices, finance and services
Which help explain why a country is more developed? (Select all that apply.)
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Capital, human capital and stability drive development.
A skilled and healthy workforce is more ______, raising development.
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Productivity is the key link between human capital and development.
Why countries differ
- Resources and capital: natural resources, machines, infrastructure 基础设施.
- Education and health: a skilled, healthy workforce is more productive.
- Stability and trade: peace, good government and access to world markets all help.
The Human Development Index combines three things — income (GNI per head), education (years of schooling) and health (life expectancy) — into one number
Which is most likely to raise a country's development over time?
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Investment in capital and human capital raises productivity.
How development can improve
- Investment in capital, education and health raises productivity 生产率.
- Trade, foreign investment 外国投资 and aid 援助 can speed growth — if used well.
Worked example. Several Asian economies grew rapidly by investing heavily in education and manufacturing for export — turning a low-income farming economy into a high-income industrial one within a generation.
Developed vs developing countries
You've got it
- developed = high income/health/education; developing = lower income, more farming
- differences come from capital, education, health, stability and trade
- development improves through investment, trade and well-used aid