term1 Definition1term2 Definition2term3 Definition3
Please sign in to your Google account to access your documents:
Colonial Legacy
Most developing countries were once colonies of Europe or were once dominated by European or other powers.
Lingering Effect
Institutions created during the colonial period often had pernicious effects on development that, in many cases, have persisted to the present day.
Wealth Extractors more than Wealth Creators
Colonial Era Institutions more favored extractors of wealth rather than creators of wealth, harming development then and now.
Colonial History
Not only were resources stolen by colonial powers but colonial powers also determined whether or not meaningful investments could have been made in these by (or in) these colonies.
Inequality Reinforcement
Development facilitating/inhibiting institutions tend to have a very long life span so long as there are resources to plunder.
Kelptocratic Institutions
These were extractive institutions which functioned at the expense of ones that encouraged productive effort.
Economical and Political Structure
Lasting colonial presence in political governance, new practices of private property ownership, personal taxation and payment by money rather than kind.
External Dependence
Developing countries are less organized in international relations which can set adverse consequences for development.
Need help typing ? See our FAQ (opens in new window)
Please sign in to create this set. We'll bring you back here when you are done.
Discard Changes Sign in
Please sign in to add to folders.
Sign in
Don't have an account? Sign Up »
You have created 2 folders. Please upgrade to Cram Premium to create hundreds of folders!