less developed country

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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.

less developed country (LDC)

A country with relatively low per capita income and little industrialization. Less developed countries have been major borrowers from a number of banks worldwide.

less developed country (LDC)

see DEVELOPING COUNTRY.
References in periodicals archive ?
However, immense political power and wealth have resulted in the need for the United States to devote a significant amount of its resources toward the assistance and development of those lesser-developed countries throughout the world.
Transnational corporations are leveraging their power to outsource jobs or to relocate to lesser-developed countries to pay lower wages and to pay fewer taxes.
In addition, he is planning to expand into some lesser-developed countries, including Cambodia where we spent several days.
As lesser-developed countries continue to build viable economies in which there are real white-collar jobs and real career paths, U.
However, lesser-developed countries are yet to overcome challenges related to affordability and lack of IT infrastructure, but are likely to overcome these medium term barriers over the course of the forecast period.
When will we realise that we are not above these other lesser-developed countries and let them run themselves?
This allows buyers in more developed countries to count on reliable, motivated trading partners in lesser-developed countries.
To my mind the words "fair" and "free" used together to describe international trade, particularly with lesser-developed countries, are nonsequitur.
The lesser-developed countries in ASEAN are all Mekong riparian states, as is Thailand.
Worried about road accidents involving inadequately insured trucks laden with goods from lesser-developed countries, finance ministry officials of the Association of Southeast Asian Nations (ASEAN) reached the agreement at a meeting held in the Brunei capital over the last two days, they said.
As global markets opened and the economies of formerly "third world" countries began to expand--creating more and more sources of goods as well as markets for exports from the industrialized world--the insular GATT became somewhat obsolete and a new organization was needed that would allow greater participation for lesser-developed countries throughout Asia, Africa and Latin America.