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The Fourth UN Conference on Least Developed Countries (LDC-IV) was held in Istanbul, Turkey, on 9–13 May 2011. It was attended by Ban Ki-moon, the head of the UN, and close to 50 prime ministers and heads of state. The conference endorsed the goal of raising half the existing Least developed countries out of the LDC category in 2022.
The landlocked developing countries (LLDC) are developing countries that are landlocked. [1] Due to the economic and other disadvantages suffered by such countries, the majority of landlocked countries are least developed countries (LDCs), with inhabitants of these countries occupying the bottom billion tier of the world's population in terms of poverty. [2]
The term "Global South", in contrast, was intended to be less hierarchical. [4] Compared to the alternatives, the term has been deemed useful as it constitutes a lens through which this group of countries keep seeing and narrating their problems in a distinctive way vis-à-vis “developed” countries in Europe, North America and Asia. [21]
Economic theories such as the North–South model have been used to justify arguments for import substitution. Under this theory, less developed countries should use barriers to trade such as protective tariffs to shelter their industries from foreign competition and allow them to grow to the point where they will be able to compete globally. [4]
The Economic vulnerability index is one of the criteria used by the United Nations Committee for Development Policy, [1] an advisory body to the United Nations Economic and Social Council, [2] in the identification of Least Developed Countries. [3] It is a composite of eight indicators: [4] Population size; Remoteness; Merchandise export ...
In world systems theory, the periphery countries (sometimes referred to as just the periphery) are those that are less developed than the semi-periphery and core countries. These countries usually receive a disproportionately small share of global wealth .
The economies in Least Developed Countries have lost an average of 7% of their gross domestic product for the year 2010, mainly due to reduced labor productivity. [113]: 14 Rising sea levels cost 1% of GDP to the least developed countries in 2010 – 4% in the Pacific – with 65 billion dollars annually lost from the world economy. [109]
Dependency theory originates with two papers published in 1949, one by Hans Singer and one by Raúl Prebisch, in which the authors observe that the terms of trade for underdeveloped countries relative to the developed countries had deteriorated over time: the underdeveloped countries were able to purchase fewer and fewer manufactured goods from ...