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 ?
In almost all developing countries, the growth rate of the youth labour force has been higher in recent decades than it will be in the coming decades.
We hope the new European Commission, as well as major developing countries such as Brazil and India, will also come to accept this as the right starting point.
But this basic assurance is not available to developing countries, for whom over 20 million dead of AIDS does not rise to that level of emergency.
With sales in these countries peaking, future growth in packaged food retail sales among developing countries is expected to be much slower," says USDA, "but will continue to exceed the rates for high-income countries.
An area of concern for some scrap dealers, especially during the next several years, will be the heightened competition as steel from developing countries starts to go into finished products for export.
Also, many developed countries need to focus on improving the productivity in their service industries which will automatically move more of the industrial sectors to the developing countries.
The objectives of this paper are to identify and test the potential factors that influence ownership decisions made by these multinationals and to shed new light on the applicability of existing theories to new multinationals from developing countries.
Therefore, on the one hand, the economies of the poor and developing countries are being hard hit as these are getting deluged by products from developed countries while, on the other, the exports earnings of the poor countries are also not increasing any as a consequence of the non-tariff barriers set up by the developed countries.
Love and Sawyer both say that compulsory licensing is one of several methods developing countries can use to obtain AIDS drugs legally without paying exorbitant prices.
The European Union (EU) has proposed stronger restrictions for developing countries on the production of hydrochlorofluorocarbons (HCFCs), one of the alternatives to ozone-depleting chlorofluorocarbons (CFCs), government sources said Tuesday.
Anglican bishops in many developing countries have no shortage of souls but many of the people in their congregations are almost destitute.

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