Factors that Effect Development

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Factors that Effect Development by Mind Map: Factors that Effect Development

1. economic

1.1. The World Bank is a development institution that seeks to help states develop.

1.1.1. The World Bank is great because its aim is to reduce poverty and support development in the worlds poorest countries. It offers low interest loans, interest credits, and grants to developing countries. Loans are long term and can last form 12-40 years.

1.1.2. While the World Bank can be a great economic factor when it comes to supporting development, it also has it's negatives. A big problem people have with the World Bank is the project that they have funded in the past. They fund projects that are for helping a country develop, but it has been seen that the World Bank tend to prioritize economic development over social development. This ends up hurting a states ability to develop as a whole because it's not just economic factors that help a country develop.

1.1.3. The world bank also tends to undermine state legitimacy because of how involved they get in their economic structure. This ends up making a state's people and it's government feel as though they are loosing their legitimacy and sovereignty. A lot of states feel this way in terms of the loans, for they end up depending on the World Bank for a long period of time.

1.1.4. Some loans can be hard for states to pay back which means that the go further into economic debt. This means that it's harder for states to develop. But the World Bank, like the IMF approved of the MDRI and now follows it.

1.2. The IMF (International Monetary Fund) aims to ensure the stability of international monetary and financial system.

1.2.1. The IMF really wants to make sure that each country will use the money that is given to them wisely. Because of this the IMF has each country sign a quota which has a plan of what they intend to do with the money. This makes sure that the loan that is given is used well to actually ensure economic development

1.2.2. The loan that the IMF gives only last for about 3-5 years. The good thing about this is that a state isn't as dependent on the IMF as it would be the world bank, and it wouldn't cause a state to feel less soveirgn or legitimate. They aren't as dependent for as long with the IMF as they are the world bank. The negative thing about a rapid loan is that it might not need enough, and some states might need more time to effectivley use the loan.

1.2.3. The IMF used to have negative effects when it came to economic development because a lot of countries found themselves unable to pay the IMF back for the loans. This furthered the countries debt and prevented much development from happening. But because of this the IMF established the Multilateral Debt Relief Initiative (MDRI). The MDRI allows 100% of relief on eligible debts. This means that if a state comes up with a plan and a quota that they have to meet, then the IMF will allow for the debts to vanish.

1.3. Trade

1.3.1. Trade has been a huge part in helping countries develop. And the threat of exhausting trade can really damage countries that have started to develop because of it. The World Bank estimated that in 2015 just over 700 million people were still in severe poverty, 9,6%. While in 1990, 2 billion people were impoverished, 37%. This decrease is due to the wide access of trade which enables countries to become economically legitimate, and join the global system. Trade works because it enables countries to specialize in certain products. Producing technology, like smart phones, has been a big export out of China. These products that enable countries to really become apart of the global economy generate jobs which boost that countries overall GDP, which will translate to their overall development.

2. Institutional

2.1. Millennial development goals

2.1.1. implemented to help poor countries become more developed, gave poor countries targets to reach, and took money from rich countries and gave it to the poor these goals were effective but criticized for the aspects that it left out Reduced poverty, number of malnourished people fell, mortality rates fell gender gap persisted, poverty exists still, displacement of citizens because of conflict, climate change/environmental needs weren't addressed, overall it was focused on averages, which overlooked the poorest of the poor

2.2. Sustainable development goals

2.2.1. Implemented after 2015 when the MDG were over. it was chosen to implement SDG instead of MDG again because it covered factors that MDG did not End poverty, end inequality and injustice, promote worldwide heath, and the use of sustainable and reliable energy more openly accepted because representatives from over 70 countries gave input The only main criticism so far is that countries think that these goals are too broad and therefor will be difficult to implement

3. Political

3.1. Corruption can be a big negative political factor when it comes to furthering development. If a state is corrupt it can stop actual development being done.

3.1.1. Corruption is seen as: a gov't that furthers gender inequality, insights terroism/instability, lack of proper usage of aids, and not having a plan/project for developing. Political corruption that gets in the way of a state's development is seen in Afghanistan. Currently Afghanistan is wasting billions in aid and it is seen as an epidemic. There is billions of dollars going towards Afghanistan which was meant to bring" peace, stability, build and rebuild institutions that would work for all Afghans after so many years of war and devastation". But the money that has been given to Afghanistan has been used to help some politician build business empires, and help increase the impunity for the powerful. This continues to happen because corruption goes seemingly unpunished by the Afghan government, and nobody has really questioned the government on where this money truly goes.

3.2. Poor management of the government is also a problem when it comes to development.

3.2.1. In order for a state to develop the government needs to build and maintain infustructure, spend money wisely, set up laws and businesses, encorage investment and protect businesses. This also relates to Afghanistan whose government is corrupt and only seems to care about building up the politicians and not it's people. If the government does't start from the ground up than there won't be much progress in development.

3.3. While there are negative political factors, peach is a positive politcal factor.

3.3.1. The state/government is the biggest factor in supporting and maintainng peach in their state. This means having social justice, a stable economy, and being a trustful government.

4. Environmental

4.1. Natural Disasters

4.1.1. Displaces citizens and destroys land used for agriculture that bring in revenue, which leads to poverty and slower development sometimes forces countries to shift the agriculture that they produce because of conditions.

4.1.2. Forces developing countries to spend money and resources on shelters and disaster relief rather than development the more money going to disaster relief the less going to support the economy, health services, education etc

4.2. climate change

4.2.1. can effect animals and agriculture, preventing individuals in developing countries from bringing in sufficient revenue ie: in Bengladesh it is raining more and more, which means more storms and unsafe conditions for fishing (which is a significant source of their income)= shorter supply of fish = less income= slower development

5. Social

5.1. Culture/religion

5.1.1. Culture and religion most times hold countries back from developing socially because many cultures/religions have practices deeply rooted in (outdated) traditions

5.1.2. Most countries contain groups of people that belong to different religions - there can sometimes be internal conflicts

5.1.3. Gender disparities

5.2. Gender

5.2.1. In a lot of religions and cultures women and men aren't necessarily seen as equal and therefore men are privileged over women in most social situations

5.2.2. Generally, in most societies theres a social, economic, and political gap between men and women. A country cannot be developed fully until both men and women are equal in all senses