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Economic Development of Asia Introduction and Overview

Economic Development of Asia Introduction and Overview. Chapters 1(a), 2(a) and 1(b). Players at a Glance. Tier 1 – Newly Industrialized Countries (NIC’s) South Korea, Taiwan, Hong Kong, Singapore Tier 2 – S.E. Asian Developing Countries Thailand, Malaysia, Indonesia, Philippines

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Economic Development of Asia Introduction and Overview

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  1. Economic Development of AsiaIntroduction and Overview Chapters 1(a), 2(a) and 1(b)

  2. Players at a Glance • Tier 1 – Newly Industrialized Countries (NIC’s) • South Korea, Taiwan, Hong Kong, Singapore • Tier 2 – S.E. Asian Developing Countries • Thailand, Malaysia, Indonesia, Philippines • Tier 3 – South Asian Developing Countries • India, Pakistan, Bangladesh, Nepal, Bhutan • China – East Asian Developing Country (Tier 3)

  3. How the Other Half Live • 40% of world population lives on less than $2 a day. • Extreme poverty • Starvation, dispair • Extreme disparities in income distribution (see fig. 11) • Poor quality of live, subsistence standards

  4. UN Millennium Development Goals (MDG’s) • In the year 2000, 189 member countries of the UN adopted eight MDG’s to eradicate poverty and achieve other human development goals by the year 2015. • What are these goals? • (Group Exercise 1 – Find a list of UN MDGs by searching the internet) (15 minutes)

  5. UN Millennium Development Goals (cont’d) • Eradicate extreme poverty and hunger • Achieve universal primary education • Promote gender equality • Reduce child mortality • Improve maternal health • Combat HIV/Aids, Malaria and other diseases • Ensure environmental sustainability • Develop a global partnership for development

  6. http://www.youtube.com/watch?v=SaCMHoq7MCg

  7. Measuring Development How do we define development? • World Bank classification by Per Capita Gross National Income – Growth Rate • Capabilities Approach – A.K. Sen • Development and Happiness – Bhutan

  8. Human Development Index • HDI takes into account (pg.49-56) • GDP PC (PPP) • Life Expectancy • Education • HDI = 1/3 (Income Index) + 1/3 (Life Expectancy Index) + 1/3 (Education Index)

  9. Human Development Index Income Index= log(current income) – log(100) log(40,000) – log(100) Life Expectancy Index= current life expectancy – 25 years 85-25

  10. Human Development Index Education Index is made up of two parts: Adult Literacy Index= current adult literacy - 0 100 - 0 Gross Enrollment Index= current gross enrollment 100 - 0

  11. Human Development Education Index = 2/3(Adult Literacy Index) + 1/3( Gross Enrollment Index)

  12. Human Development Index • HDI now equals HDI = 1/3(Income Index) + 1/3(Life Expectancy Index) + 1/3(Education Index)

  13. Human Development Index • Calculate HDI for India: • GDP PC (PPP)= 3,460 • Life Expectancy= 64 years • Adult Literacy= 70 • Gross Enrollment= 65%

  14. Common Characteristics of Developing Countries(pg. 56-71 Todaro) • Lower levels of living and productivity • Lower levels of human capital • Higher levels of inequality and absolute poverty (fig. 27) • Higher population growth rate • Greater social fractionalization • Large rural populations (migration) • Lower levels of industrialization

  15. Common Characteristics of Developing Countries • Adverse geography or resource endowment • Underdeveloped financial market • Colonial impact • External dependance • Role of public – Private sector (Exercise – Are living standards of developed and developing countries converging? Read 78-81 and write 2 paragraphs) Due next class

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