Glossary Category: Economic Development

free trade area

A free trade area (FTA) is a region where member countries agree to remove tariffs and other trade

Consequences of globalisation refer to the combined positive and negative effects resulting from increased economic and cultural integration

Causes of globalisation are the main factors that drive the closer connection between world economies: Technological change: Advancements

The World Bank is an international financial institution established in 1944 to provide financing, technical expertise, and strategic

The International Monetary Fund is a global organisation established in 1944 to promote international monetary cooperation and exchange

External debt is the total amount of money that a country’s government, businesses, and people owe to lenders

When developing countries take on too much external debt, they face significant and lasting challenges that impact their

External debt in developing countries occurs due to a mix of historical, structural, and government policy factors. Structural

The consequences of Foreign Direct Investment (FDI) for a host country can be both beneficial and harmful, depending

Foreign Direct Investment (FDI) happens when a business from one country invests in another country to build or