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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]
Aid dependency is an economic problem described as the reliance of less developed countries (LDCs) on more developed countries (MDCs) for financial aid and other resources. More specifically, aid dependency refers to the proportion of government spending that is given by foreign donors. [28]
The model carries implications for less economically developed countries, where labour is in plentiful supply in these countries but physical capital is not, slowing down economic progress. LDCs do not have sufficiently high incomes to enable sufficient rates of saving; therefore, accumulation of physical-capital stock through investment is low.
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]
Developmentalism is an economic theory which states that the best way for less developed economies to develop is through fostering a strong and varied internal market and imposing high tariffs on imported goods.
Structuralism is a development theory which focuses on structural aspects which impede the economic growth of developing countries. The unit of analysis is the transformation of a country's economy from, mainly, a subsistence agriculture to a modern, urbanized manufacturing and service economy .