Objectives that have been broken down into smaller units and restated in numerical terms.
The specific people intended to benefit from a programme.
A fixed percentage tax on the value of an imported commodity. It is charged at the point of entry into the importing country. The United States, for example, until recently charged a tariff on cheaper steel imports so that businesses within the country would favour US steel; they were forced to remove this tariff by the European Union.
A group within an organisation which does a particular job on a specific topic and brings their findings and recommendations back to the whole group for review.
Foreign aid (either bilateral or multilateral) that takes the form of the transfer of expert personnel, technicians, scientists, educators, economic advisers, consultants, etc. rather than a simple transfer of funds.
The use of the internet for voice and fax transmissions.
‘Trickle down’ theory of development
The notion economic growth will automatically bring benefits, or “trickle down,” to the masses. These benefits include jobs and other economic opportunities. The theory therefore advocates priority be given to economic growth, while problems of poverty, unemployment and income distribution are perceived to be of secondary importance.
Terms of trade
A country’s average export price compared to its average imports price. A country’s terms of trade are said to improve when this ratio rises and to worsen when it falls.
An alternative, though now much less used term, to describe low income countries, developing countries, least developed countries or the South.
Foreign aid in the form of bilateral loans or grants that require the recipient country to use the funds to purchase goods and or services from the donor country.
The reduction of tariffs and trade barriers to permit more foreign competition and foreign investment in the economy.
Countries whose economies used to be centrally planned by the government but are now changing to base their economies on the market.
Sharing information and acting in an open manner which enables stakeholders to gather information that may be critical to defending their interests. Transparent systems have clear procedures for public decision-making and open channels of communication between stakeholders and officials, and make a wide range of information accessible.