developing 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.

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 ?
The USA broached differentiation which was again opposed by developing countries. The Round by then was in its death throes and attention was long focused on advanced bilateral and plurilateral trade negotiations outside the WTO.
The ministry statement noted the US proposal as saying that the inability to differentiate between developed and developing countries will put the WTO at risk.
Before the Agreement is implemented in 2020, the developed countries had to disburse $100 billion a year to the developing countries to support their NDCs and climate actions.
'Globalization has emerged into a condition in which productive capacity of developing countries, their land, labour, forests, and fisheries now produce mostly for the benefit of a relatively few rich people elsewhere,' she said.
With this change, developed countries have been utilizing their bilateral development finance institutions (DFIs) to mobilize capital from private financial institutions and other private sector resources while supporting the private sector in contributing to the sustainable development of developing countries. Of the bilateral DFIs, OPIC has the most extensive operations, reaching 3.8 billion USD (112 projects) in committed funds in 2017 and a portfolio of 23.2 billion USD as of the end of 2017.
Foreign direct investment from developing countries has increased 20-fold in the last 20 years, accounting for nearly 20 per cent of the global FDI 1/4eows by 2015.
Other areas of collaboration include the preparation and training of students from developing countries to enrol in QU graduate programmes or to conduct a part of their research at QU, the provision of training and consultancy services by QU faculty and researchers to universities in developing countries, as well as the development of intellectual property in these universities and the support of innovation and development opportunities through the use of technology.
Part II begins by laying out the tension between the need for antitrust in developing countries and the obstacles these countries face in building their own regimes.
In the 1992 climate convention two annexes, or lists of countries, were created - Annex 1 (developed countries) and non-Annex-1 (developing countries).
A statement issued by the IMF on Saturday, a copy of which was obtained by Petra, said that raising additional revenues will allow developing countries to fill financing gaps and to promote development.
The report was based on findings from a survey of how people in developed and developing countries use the mobile Internet in their daily lives and what they hope to achieve using their devices in the future.
The firming of growth in developing countries is being bolstered by an acceleration in high-income countries and continued strong growth in China.

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