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

or

less developed country

or

underdeveloped country

or

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 ?
All these assistance mechanisms differ from supplanting in a crucial way: they leave implementation to the developing country. This is different from another form of assistance that is more akin to supplanting, namely positive comity.
Developing country exceptionalism further has a corruptive influence when the widespread practice in environmental agreements of tying developing countries' compliance to the receipt of funds from developed countries (234) turns international standards into a fundraising source.
Many of the developing country ministers who were negotiating may not have been as familiar with the issues or the political realities of the negotiations as some of their negotiators in Geneva, or as compared to the technical capacity of the EU's Pascal Lamy and U.S.
"Maybe what we should have is some kind of 'sympathy strike' (mechanism) that when a developing country retaliates, other developed countries...also retaliate for the same reasons," she said.
The Secondary Market Price of Developing Country Debt
And the lack of political will in the rich democracies has made the developing country democracies even less interested in embracing the long road of reform.
Although most such collaborations are not funded for the purpose of capacity building in the developing country, they often serve as invaluable research building tools, according to Damstra.
IMF and World Bank have obligated developing country governments to adopt liberalization policies--with disastrous results.
That is a return to barriers to developing country exports.
This is one of the largest and most rapidly growing markets for developing country products in central and eastern Europe.
Kahn, and Ross Levine, "External Debt and Developing Country Growth," International Finance Discussion Paper 352 (Board of Governors of the Federal Reserve System, May 1989).

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