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 ?
China, considered a developing nation at these talks, overtook the U.
In 2011, the United States ranked first in arms transfer agreements with developing nations with over $56.
Steiner said countries were scrambling to work out how such a mechanism would work and sorting it out quickly would help ease the deep distrust between developed and developing nations.
The US and the EU will continue to pump millions of dollars into developing nations through bilateral support (e.
Developing nations will have to step up to fill the gap.
Developing nations reject this because it is private income that they say they have no control of.
He said: "Optometric resources in sub-Saharan Africa and other developing nations remain drastically deficient.
2 billion: The value of all arms transfer agreements with developing nations in 2005, the highest annual total since 1998.
Many developing nations are following this diverse, localized approach to green building, while the U.
Under the agreement reached in Nairobi, the Kyoto Protocol member nations will submit to the secretariat by mid-August their opinions on how the pact should be improved with regard to matters such as compliance by developed nations and assistance needed by developing nations to cope with issues related to climate change.
At its meeting in Toronto in September, the Board of the International Federation of Accountants (IFAC) approved increasing the involvement of developing nations in its activities by expanding the IFAC Developing Nations Committee and by providing financial support to qualified individuals from developing nations who would like to participate on IFAC boards and committees.
A central component of that vision is the establishment of enhanced research capacity in developing nations and cooperation between the research communities here in the United States and abroad.

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