Exam 3 Study Guide
Exam 3 Study Guide PSC 1003
Popular in Introduction to International Politics
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This 3 page Study Guide was uploaded by Kerrigan Unter on Monday October 19, 2015. The Study Guide belongs to PSC 1003 at George Washington University taught by Olson, L in Fall 2015. Since its upload, it has received 75 views. For similar materials see Introduction to International Politics in Political Science at George Washington University.
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Date Created: 10/19/15
PSC 1003 Exam 3 Study Guide Vocabulary C rony capitalism noncompetitive lending and investment relationships between government financial institutions and private industry Lost decade a period of economic stagnation in Latin America brought on by domestic policies the oil crises and high debt lasting from the early 1970s to the late 1980s Rentseeking rms firms that lobby to limit competition extracting monopoly rents by producing at low costs while selling at high prices Financial repression a policy in which states extract savings from one sector to benefit another sector Collective goods benefits that are indivisible and cannot be appropriated Dependency theory theory developed by critical theorists that explains lack of development in terms of colonialism and oppression Core states large and leading countries that produce most of the innovative products which enjoy an initial monopoly Peripheral states smaller and less developed countries that produce most of the competitive or lagging products after the monopoly qualities of these products have been substantially diminished Semiperipheral states states that produce a nearly even mix of monopoly and competitive products Imperialism the forceful extension of a nation s authority to other peoples by military economic and political domination Montreal Protocol 1987 limit production of CFCs success Kyoto Protocol 1997 limit carbon dioxide emissions failure Demographic transition period of accelerating population growth as living standards increase because death rates decline faster than birth rates Graying population a demographic pattern I which the percentage of a country s population older than sixtyfive increases David Ricardo comparative advantage a trade advantage created by government intervention to exploit monopoly rents in strategic industries Fixed exchange rate system exchange rates that are fixed by governments to gold another currency or a basket of currencies Most favored nation treatment MFN a principle under which nations that negotiate tariff reduction offer the same low tariff to all nations that the offer to the most favored nation meaning the nation that pays the lowest tariffs TRIPs Intellectual Property TRIMs Sensitivity interdependence where states are tied together to such a degree that the decisions of one state have some effect on others Vulnerability interdependence where states are tied together to a greater degree such that the decisions of one state can cause such a detrimental effect on other states that the other states are forced to alter their policies These alterations usually feedback and affect the first state Economies of scale cost advantages whereby the larger the amount of a good that is produced the lower the average cost of production Current account the net border ows of goods and services along with government transfers and net income on capital investment Capital account the net ows of capital both portfolio and foreign direct investment into and out of a country Balance of payments a country s current and capital account balances plus reserves and statistical errors Tari s taxes on goods and services crossing borders Nontari barriers quota and subsidy Notes 1 The 4 predictors of economic development political stability internal economic policies external economic policies sociocultural factors 2 Exportled growth policies in East Asia vs import substitution policies in Latin America What factors led to East Asia s success while Latin America had a more problematic history of development 3 The critical theory perspective How do Marxists view the international system What role do state international financial institutions and multinational corporations play in the critical theory perspective 4 How does each of the perspectives explain the contemporary era of globalization What types of economic policies do the different perspectives promote 5 The tragedy of the commons and environmental issues How does the problem of collective goods inform the analysis of the growing importance of issues such as population natural resources and pollution What aspects of the world environment do the 3 perspectives emphasize
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