Key Concepts in International Development and Economics

ODA: Official Development Assistance

Official Development Assistance (ODA) is the economic contribution of states to development, free of charge, or better than those offered by the international market, even though it has many limitations, such as insufficiency.

Economic Globalization

This type of globalization implies global interdependence in the production, exchange, and consumption of goods.

Multinational Corporations

These are product/service companies based in one country with affiliates in various states across the globe. They act with a global strategy.

IGIEA: Index of Governance of the International Economy

This index measures the capacity and legitimacy of each country to participate in the governance of the global economy in the economic field.

Millennium Summit (2000)

At this summit, 189 Heads of State and Government pledged to achieve by 2015 the so-called "Eight Millennium Development Goals" to alleviate poverty, improve education, promote gender equality, and protect health and the environment.

Mediterranean Partnership

Created in 1995 in Barcelona, its objectives are to promote understanding between cultures, respect for human rights, combating poverty, economic cooperation, control of migration, and cultural cooperation. It is a supranational institution formed by the 27 EU countries.

HDI: Human Development Index

The Human Development Index (HDI) is prepared by the UN, taking into account an estimated average of three indicators: GDP, life expectancy, and literacy rates, and enrollment in primary, secondary, and higher education.

Underdeveloped Countries or Countries of the South

These are countries that have a low per capita income, low industrial development, are based on cheap labor, and have a strong dependence on foreign technology, etc.

Trade Center-Periphery

These are the countries of the Triad (USA, EU, and Japan) that exchange with others in the periphery. In this type of exchange, centers export high-value products. The peripheries are exploited for raw materials and agricultural products, which hampers the development of peripheries.

Antiglobalization Movement

This movement addresses the consequences of globalization. It integrates diverse organizations, all of which criticize the way this process is taking place.

IMF: International Monetary Fund

The IMF aims to maintain international monetary stability and provides funds to underdeveloped countries in exchange for harsh economic adjustment policies.