what are some characteristics of a developing country?
No wonder that people of these countries which have won freedom from the colonial rule aspire to develop economically and that in the shortest possible time. Two types of statistical data regarding nutrition are given in Table 4.4. The level of per capita income being quite low, most of it is spent on satisfying the bare necessities of life, leaving a very little margin of income for capital accumulation. The low level of capital formation in a developing country is due both to the weakness of the inducement to invest and to the low propensity and capacity to save. But most often the sector in which the greatest concentration of incomes lies is the one which derives its income primarily from non-entrepreneurial sources such as unearned incomes of rents, interests and monopoly profits. Some developing countries are largely dependent on exports of primary products, others do not show such dependence, and others do not show such dependence. In many others, the developing countries do not share common interests and may find themselves on opposite sides of a negotiation. Developing countries are the poor countries of our world. While developing countries are countries where the level of welfare of the population is still in the middle of developing level. In India which is a lower middle income country, under 5-years mortality rate in 2009 was relatively high at 66 as against only 8 per 1000 live births in the United States and United Kingdom. Since then there has been substantial increase in the rate of saving and investment in the developing countries. What makes a country developed? For the removal of poverty capabilities of the poor should be enhanced so that they should be able to meet their minimum basic needs which include getting adequate food, health, clothing and shelter. Boeke but he emphasised the social dualism, according to which there is sharp contrast between the social systems characterising the two broad sectors of the economy, one in which the original social system with its subsistence or pre-capitalist nature, limited wants, non-economic behaviour and low level of economic and social welfare prevails, and the other where imported capitalist system with its modern system of industrial organisation, wage employment, unlimited wants and positive behaviour to economic incentives exists. These characteristics might include: Relatively low incomes per capita and a low level of absolute savings Lower absolute levels of productivity (labour and capital) Low per Capita Income: An underdeveloped country is a poor country. However, the quantity of capital per head is still very low in them and therefore productivity remains low. There is a growing and legitimate desire of the poor nations to eradicate poverty. What do we find today? Lack of Capital Formation 4. It is the production function which establishes a relation between inputs and outputs. COMMON CHARACTERISTICS OF DEVELOPING COUNTRIES 1. However, there appears to be a common feature, namely, a rapid rate of population growth. Mortality rate of under 5 years age children per 1000 live births in 2009 was 118 in low income countries (LIC) and 57 in lower middle income countries (LMC). The following characteristics of an underdeveloped economy are found in the Indian economy: 1. Share Your PPT File, Effects of Tariffs on Terms of Trade | International Economics. High incidence rate of poverty. Share Your Word File Moreover, since the technology used in the modern sector is highly capital-intensive, the growth of this sector has not absorbed adequate amount of labour in high productivity and high wage employment. For capital formation expectancy, and illiteracy and the developed countries capital real income, technical and... 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