Across
- 2. a convergence of views about a set of policy principles necessary for economic growth which was adopted by the World Bank and IMF and promoted around the world. Term coined by John Williamson.
- 5. The process of trimming budget deficits, removing protectionist trade barriers, eliminating price controls, privatization, etc.
- 8. a theory that contends that economic underdevelopment cannot be overcome until the society in question abandons its traditional social and institutional structures
- 9. A term used by a French economist in the 1950s to indicate the communists states as opposed to the developed countries of the West or developing states
Down
- 1. Category of developing countries characterized by rapid economic growth and relatively successful economies; mostly found in Asia
- 3. economic policies and institutional arrangements aimed at achieving economic convergence with the living standards prevailing in advanced countries.
- 4. Theory that asserts that the advanced capitalist countries of the North dominate the world economy and constitute its “core”
- 6. The first of two views that Rodrik explains. In this case, state action is the major factor inhibiting economic growth due to poor policies.
- 7. The second of two views that Rodrik explains. In this case, imperfections in the matching of supply and demand can block investment and entrepreneurship, thus blocking economic growth.
- 8. The type of society characterized by complex social structure consisting of differentiated, specialized professions all interacting with one another over a relatively wide geographic area