POL 101W Lecture Notes - Lecture 13: Poverty Trap, Washington Consensus, International Monetary Fund
6 Dec 2016
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Pol101w d100 lecture notes: week 13, international politics. Week 13 key concepts (chapters 13 and 14): A process of change involving abandoning authoritarian government for democratic rule. Country with a democratic government that is stable, well accepted by both ordinary citizens and political elites, and unlikely to be overthrown. Dependency theory argues that underdevelopment results from unequal power relationships between rich and poor countries, a. k. a. the center (dominant, capitalist countries) and the periphery (poor, dependant countries). A series of policies put together by the international monetary fund and the world. Bank that encourage developing countries to generate more revenue for debt repayment by cutting government expenditures to balance their budgets, selling-off government owned enterprises (privatization), and fully opening their countries to foreign goods and investments. A program administered by international financial institutions which offers loans at very low interest rates to governments facing problems paying their debt on the condition that they adopt programs endorsed by the washington consensus.
