Why do levels of economic development vary and how can they lead to inequalities?

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  • Created by: Jake199
  • Created on: 01-06-14 11:26
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  • Why do levels of economic development vary and how can they lead to inequalities?
    • Physical factors that effect economic development
      • Location e.g landlocked
      • Abundance of natural resources
      • Climate
      • Size of country
      • Terrain
      • Susceptibility to natural hazards
    • Economic factors that effect economic development
      • National loans and debts
      • Presence of TNCs
      • Strength of economy and PPP
      • Imports and exports
      • Level and efficiency of trade
      • Size of workforce
      • Foreign direct investment
      • Employment structure
    • Social factors that effect economic development
      • Culture
      • Population size
      • Population structure and dependency raatios
      • Status of women and ethnic minorities
    • Political factors that effect economic development
      • Trade
      • Banking laws/guidlines
      • National debt or loans
      • Imports and exports
      • Strength of economy and PPP
      • Strength of currency
      • Tax and interest rates
      • Multinational group laws e.g EU economic policies
    • Japan rapid economic development
      • Physical
        • Only 1/3 of Japan is inhabitable
        • Little mineral and energy resources
        • Infrastructure and industry destroyed after WWII
        • Japanese TNCs have offices all over the world
      • Economic
        • Over-loaning policies
        • Most high-tech and efficient industries in the world
        • Worlds biggest TNCs e.g Fuji, Nissan, Honda
        • Most manufacturing has taken place in China and India, increasing tertiary employment in Japan (75% of GDP)
        • Government holds strict control over banks
        • Efficient and reliable imports and exports
        • High economic growth after WWII
      • Social
        • Pop of 150,000,000
        • Culture ensures good work ethic
        • Culture embraces change
      • Political
        • 3rd biggest trading nation
        • Strict control over banks
        • 1960s 'income doubling plan'- taxes and interest rates halved
        • Efficient and reliable imports/exports
        • Anti-monopoly laws
        • Undervalued Yen increases profits from exports
        • Provides econoimc and tech aids to secure imports

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