In economic base analysis, the Basic Industry Multiplier (BIM) is the ratio of the total population in a local area to employment in basic industries. These industries attract income from outside the local area, and jobs added in basic industries contribute to local service job creation.
Developed countries, also known as advanced economies, are nations that sit at the top of the economic development hierarchy and exhibit high living standards, significant industrialization, and a robust infrastructure.
Developing countries are nations with lower per capita income compared with wealthy countries such as the United States, Western Europe, and Japan. Investment in these countries is often channeled through emerging market funds.
Foreign Direct Investment (FDI) refers to the investment made by a foreign entity into a business or production in another country. This often involves acquiring control or significant ownership of a company in the target country.
An Industrial Development Board (IDB) is a governmental or quasi-governmental entity established to promote and support economic development within a specific jurisdiction. Its primary role is to attract, retain, and expand businesses and industries to enhance the local economy, create jobs, and improve the quality of life for residents.
A debt instrument issued by a municipality to finance assets, which are then leased to private industrial businesses to promote local economic development.
Industrial Development Bonds (IDBs) are debt obligations issued by state or local governments for funding the capital investments in the trade or business operations of nonexempt persons.
An industrial park is a designated area zoned specifically for manufacturing and related activities, often complete with necessary infrastructure to support industrial operations.
Infrastructure, also known as social overhead capital, refers to the essential goods and services that require significant investments and are critical for the effective functioning of an economy. This includes elements like roads, railways, sewerage, and electricity supply.
A key institution of the World Bank Group, the IBRD provides loans and financial services to middle-income and creditworthy low-income countries aimed at reducing poverty and promoting economic development.
An international financial institution that provides loans and financial assistance for development projects in middle-income and creditworthy low-income countries, commonly known as the World Bank.
Kelo v. City of New London was a landmark case in United States Supreme Court history dealing with the authority of the government under the Takings Clause of the Fifth Amendment to seize private property for public use.
A term used to describe countries in a poor and primitive economic condition, characterized by low income, limited industrialization, and often a dependency on agriculture.
An economy characterized by low levels of income, industrialization, and modernization along with low standards of living.
Money serves as a medium of exchange, a unit of account, a store of value, and a means for deferred payment. It has driven economic development by simplifying the exchange of goods and services.
The Rehabilitation Tax Credit encourages the preservation of historic buildings through tax incentives. It offers a 10% tax credit for the rehabilitation costs of certain older, non-residential buildings and a 20% tax credit for certified historic structures.
The Small Business Administration (SBA) is a United States government agency that provides support to entrepreneurs and small businesses. The SBA's mission is to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters.
Social overhead capital refers to the investment in infrastructure and services like education, healthcare, and transportation, whose productivity cannot be directly measured but play a crucial role in overall economic growth and societal well-being.
A special type of government loan in which the terms and conditions of repayment are more generous (or softer) than they would be under normal finance circumstances. For example, the interest rate might be less and the repayment term might be for a longer period.
A subsidy is a financial aid or support extended by the government to certain individuals or groups, aimed at promoting economic and social policies.
An underdeveloped country, also known as a Third World country, is a nation characterized by a low level of economic development, widespread poverty, low per capita income, and scarce social infrastructure. These countries often face challenges such as political instability, inadequate healthcare, and limited educational opportunities.
An underdeveloped country is characterized by a low standard of living, an economy primarily based on primitive technologies for farming and manufacturing, and limited industrialization.
Unearned increment refers to the increase in the value of real estate that occurs without any effort or investment from the property owner. This often results from factors such as population growth, economic development, or improvements in the surrounding area.
