All Flashcards
What is the goal of Economic Liberalization?
Boost economic growth by opening up the country's economy.
What is the goal of Import Substitution Industrialization?
Increase self-sufficiency and pursue specific domestic goals.
What is the role of the United Nations (UN)?
Promotes international security, human rights, and development.
What is the role of the World Bank?
Provides loans to developing countries for growth.
What is the role of the International Monetary Fund (IMF)?
Works to stabilize finances and promote economic growth.
What is the role of ECOWAS?
Promotes economic integration in West Africa by reducing tariffs.
What is the role of the World Trade Organization (WTO)?
Promotes and facilitates international trade through rules.
What is the role of the European Union (EU)?
A major supranational organization with its own currency and political structure.
Cause & Effect: Conditionalities from IMF/World Bank?
Cause: Seeking loans/aid | Effect: Economic reforms, potential loss of national control.
Cause & Effect: Adoption of ISI?
Cause: Desire for self-sufficiency | Effect: Increased domestic production, potential trade conflicts.