ECO 2117 Chapter 2: chapter 2 notes
20 Aug 2016
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Document Summary
The world bank is an organization that provides development funds to developing countries in the form of interest-bearing loans, grants and technical assistance. Groups countries into low income (gni per capita of less than ), middle income countries (gni per capita between - 475) Wb also classi es countries as severely, moderately and least indebted. The undp classi es countries according to their level of human development, including health and educational attainments (ranks as low, medium, high and very high) Newly industrializing countries are countries that are at a relatively advanced level of economic development with a substantial and dynamic industrial sector and with close links to the international trade, nance, and investment system. Least developed countries are countries designated by the un with low income, low human capital, and high economic vulnerability. Human capital involves productive investments in people, such as skills, values, and health resulting from expenditures on education, training and medical care.
