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 ?
Financial institutions such as the Asian Infrastructure Investment Bank, which was established under the leadership of China and will provide finance for the infrastructural investments of many underdeveloped countries in an attempt to complete the necessary infrastructure to put the project of the Silk Road into practice, will pave the way to develop alternatives in the field of finance.
TRIPS has been detrimental to the underdeveloped countries, which cannot afford to pay royalties, but the WTO does nothing to modify it.
Seeking other means to maintain growth and social development, she emphasised that collective efforts are also key elements in developing production capabilities and increased goods and services in underdeveloped countries.
Hence, for our research we selected indicators, which are sensitive to development level of the country and obtain rather differing values in developed, developing and underdeveloped countries. For selected, listed below indicators, which in our case, would let introduce differences in countries' development through particular sustainability facets, hypotheses are to be formulated and tested.
Gul said the recent global economic crisis had shown how strong mutual dependence was, and the global economic crisis which stemmed from problems of developed market economies deeply affected developing and underdeveloped countries.
Bono'S charity, set up to help underdeveloped countries, only gives a fraction of the millions donated to those who need it.
It's unbelievable that underdeveloped countries in Africa have reached 120 percent and you're at 60-70 percent."
Such a statement may seem derogatory towards Wales and the Welsh, especially the comparison with the situation in underdeveloped countries like Albania and Moldova.
Six topics were covered: unemployment in developing areas, underdeveloped countries in the world, the international politics and diplomacy of development, economic growth in newly settled areas as contrasted with old settled areas, cultural change in development, perspectives for cooperative research.
"Following this principle recognises ways of supporting small scale producers - whether in underdeveloped countries of the Third World or right here in Wales," said FUW Anglesey executive officer Heidi Williams.
How can we expect our nation to remain productive and competitive when other countries, through innovative and aggressive provision of mobility for their Citizens, are getting way ahead of us--even in underdeveloped countries? Our citizens deserve mobility and access.
Many of the precepts here don't have much immediacy for corporate executives; these entrepreneurs are scraping together programs in underdeveloped countries and face severe funding as well as logistical problems.