developing country

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Related to Less developed countries: Less economically developed countries

Less Developed Country

A country with lower GDP relative to other countries. Less developed countries are characterized by little industry and sometimes a comparatively high dependence on foreign aid. Less developed countries often undertake programs of development, with greater or lesser interventions on the part of the national governments. They are major borrowers from organizations such as the World Bank. While no strict definition of which countries are less developed exists, most countries that do not belong to the OECD are considered less developed. See also: International development.

developing country

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less developed country

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underdeveloped country

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emerging country

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Third World

country a country characterized by low levels of GROSS NATIONAL PRODUCT and INCOME PER HEAD. See Fig. 51 . Such countries are typically dominated by a large PRIMARY SECTOR thatproduces a limited range of agricultural and mineral products and in which the majority of the POPULATION exists at or near subsistence levels, producing barely enough for their immediate needs, thus being unable to release the resources required to support a large urbanized industrial population. The term ‘developing’ indicates that, as seen by most such countries, the way to improve their economic fortunes is to diversify the industrial base of the economy by, in particular, establishing new manufacturing industries and by adopting the PRICE SYSTEM. To facilitate an increase in urban population necessary for INDUSTRIALIZATION, a nation may either IMPORT the necessary commodities from abroad with the FOREIGN EXCHANGE earned from the EXPORT of the (predominantly) primary goods, or it can attempt to improve its own agriculture. With appropriate ECONOMIC AID from industrialized countries and the ability and willingness on the part of a developing country, the transition into a NEWLY INDUSTRIALIZED COUNTRY could be made.

Certain problems do exist, however. For instance, increases in real income that are achieved need to be maintained, which means keeping population numbers in check. Illiteracy and social customs for large families tend to work against governmental efforts to increase the STANDARD OF LIVING of its citizens. Also, most of the foreign exchange earned by such countries is by exporting, mainly commodities (see INTERNATIONAL TRADE). See ECONOMIC DEVELOPMENT, STRUCTURE OF INDUSTRY, DEMOGRAPHIC TRANSITION, POPULATION TRAP, INTERNATIONAL COMMODITY AGREEMENTS, UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT, INTERNATIONAL DEBT.

References in periodicals archive ?
It's a neat way to ensure people in the developed world can make a useful contribution to those in less developed countries.
4% of serious cases in less developed countries had not received treatment within the 12 months prior to the survey.
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Industry representatives argue that they prefer programs in which old phones are turned over to charities or resold in less developed countries.
Stiglitz accuses the IMF of placing the interests of developed countries and their "main shareholder," the United States, above the interests of less developed countries.
However, less developed countries re responsible for a growing share -- roughly 53 percent -- of global carbon dioxide emissions.
The European Commission is aiming to create a complete free trade area in food and other products with the less developed countries.
The islands, commonly called the Less Developed Countries (LDCs) of CARICOM (the Caribbean Community), have given March 12 this year, as the deadline for implementing the measure.
Customers, regulators and legislators must be aware that, by tightening the environmental standards and increasing the costs of American manufacturing, there is a 'clear and present danger' that manufacturing will migrate off-shore to the less developed countries aspiring to create wealth.
The lion's share of pain will fall on less developed countries, as well as on the less-skilled in advanced systems.
But did capitalist nations succeed by exploiting less developed countries through imperialism and colonialism?
This provides an outstanding opportunity for film producers to counter the lower labor costs of less developed countries such as Mexico by upgrading their manufacturing equipment to take advantage of the latest technology.