DEFINE and explain, giving the significance of these terms: HDI, Sen’s capabilit
ID: 1102457 • Letter: D
Question
DEFINE and explain, giving the significance of these terms: HDI, Sen’s capabilities approach, backward linkages in ISI, Dutch Disease, Patrice Franko, Petrodollar recycling, Romer’s endogenous growth model, Is economic development more like physics or like biology? Equatorial paradox theory DEFINE and explain, giving the significance of these terms: HDI, Sen’s capabilities approach, backward linkages in ISI, Dutch Disease, Patrice Franko, Petrodollar recycling, Romer’s endogenous growth model, Is economic development more like physics or like biology? Equatorial paradox theory DEFINE and explain, giving the significance of these terms: HDI, Sen’s capabilities approach, backward linkages in ISI, Dutch Disease, Patrice Franko, Petrodollar recycling, Romer’s endogenous growth model, Is economic development more like physics or like biology? Equatorial paradox theoryExplanation / Answer
HDI-The Human Development Index (HDI) is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living.
Sen's capabilities approach- Capability Approach is defined by its choice of focus upon the moral significance of individuals’ capability of achieving the kind of lives they have reason to value. This distinguishes it from more established approaches to ethical evaluation, such as utilitarianism or resourcism, which focus exclusively on subjective well-being or the availability of means to the good life, respectively.
Linkages behind ISI
(1) (1)Consumer non-durable goods sector (foods, beverages, clothes,pharmaceuticals);(2) (2)Consumer durable goods sector (appliances, autos,etc.)(3) (3)Intermediate goods sector (pressed steel, sawnwood, prefabricatedplastic structures with versatile end uses)(4) (4)Capital goods sector
Dutch disease is the negative impact on an economy of anything that gives rise to a sharp inflow of foreign currency, such as the discovery of large oil reserves. The currency inflows lead to currency appreciation, making the country's other products less price competitive on the export market
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