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

or

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 ?
She views the economic misery of an underdeveloped country as partly responsible for the 1936 change of heart, but concludes that it was "essentially political, not economic or material in nature," mirroring "Stalinist policy in other areas."(341) If this is indeed the case, Goldman may have underestimated the nonlibertarian and nonlibertine arguments within the Communist Party in the 1920s and should have elaborated on the political rationale for change.
In view of all that has been said thus far on the point, AN UNDERDEVELOPED COUNTRY can be defined as ONE WHOSE NATURALAND HUMAN RESOURCES ARE PARTLY UNUTILISED, PARTLY UNDERUTILISED, AND PARTLY MISUTILISED, AND IN WHICH THERE IS A GROSS DEFICIENCY IN THE QUALITY OF THE THREE PRODUCTIVE AGENTS OF LABOUR, CAPITAL AND ORGANISATION.
it has been assumed that every underdeveloped country has enough or natural and human resources for its purposes.
IT is generally agreed that the phrase DEVELOPING COUNTRY is a euphemism for UNDERDEVELOPED COUNTRY. The two phrases are synonymous.
The outstanding physical features of an underdeveloped country must, therefore, be stated.
This orientation is promoted and encouraged by foreign enterprises for their own benefits, and it automatically generates a system of dual economy in the underdeveloped country. A lot of unhealthy economic consequences follow.
In order to pay comfortably for the primary produce imported by them, the foreign entrepreneurs deliberately stimulate in the more prosperous sections of the underdeveloped country an inordinate propensity to import.
Talking to media persons outside the parliament, Qamar Zaman Kaira said that the government is providing training to the journalist, adding that Pakistan is an underdeveloped country and it is not possible for the government to provide security to each journalist in the country.