Developing country

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A developing country is that country which has relatively low standard of living, an undeveloped industrial base, and a moderate to low Human Development Index (HDI) score and per capita income, but is in a phase of economic development. Usually all countries which are neither a developed country nor a failed state are classified as developing countries.

Countries with more advanced economies than other developing nations, but which have not yet fully demonstrated the signs of a developed country, are grouped under the term newly industrialized countries.^[1][2][3][4] Other developing countries which have maintained sustained economic growth over the years and exhibit good economic potential are termed as emerging markets. The application of the term developing country to any country which is not developed is inappropriate because a number of poor countries have experienced prolonged periods of economic decline. Such countries are classified as either least developed countries, Heavily Indebted Poor Countries, or failed states.

Development entails a modern infrastructure (both physical and institutional), and a move away from low value added sectors such as agriculture and natural resource extraction. Developed countries, in comparison, usually have economic systems based on continuous, self-sustaining economic growth in the tertiary and quaternary sectors and high standards of living.

Contents 1 Measure and concept of development 2 List of developing countries 2.1 Asia 2.2 Europe 2.3 North America 2.4 Oceania 2.5 South America 3 Typology and names of countries 4 See also 5 References

[edit] Measure and concept of development

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[edit] List of developing countries

The following are developing countries, including the Newly industrialized countries, that are not listed as developed or least developed countries.

[edit] Typology and names of countries

Countries are often loosely placed into five categories of development. Each category includes the countries listed in their respective article. The term "developing nation" is not a label to assign a specific, similar type of problem.

1. Newly industrialized countries or NICs, nations with economies more advanced and developed than those in the developing world, but not yet with the full signs of a developed country.^[1][2][3][4] NIC is a category between developed and developing countries, and it includes South Africa, Argentina, Mexico, China, India, Brazil, Malaysia, Philippines, Thailand and Turkey.
2. Countries with an economy consistently and fairly strongly developing over a longer period: Pakistan, Iran, much of South America, several of the Persian Gulf States, the countries of the former Warsaw Pact and others. (See Emerging markets.)
3. Countries with an inconsistent record of development: most countries in Africa, Central America, and the Caribbean (except Jamaica, in category 2, and Puerto Rico, a U.S. territory); much of the Arab World; also a few countries from Southeast Asia (Laos and Cambodia). 76% of the world's countries fall under this category.
4. Countries with long-term civil war or large-scale breakdown of rule of law or non-development-oriented dictatorship ("failed states") (e.g. Afghanistan, Haiti, Somalia, Myanmar, Iraq, North Korea); they sometimes also have low resources.

[edit] See also

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[edit] References

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