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Economic Development of Asia Introduction and Overview

Explore Asia's economic growth, struggles, and UN Millennium Development Goals, including poverty eradication efforts and Human Development Index calculations. Learn about developing Asian countries, their challenges, and the global partnership for development.

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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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