Thus, according to Amartya Sen, freedom of choice, and control of one’s own life are central aspects of well-being for which true development is needed. As a result of the difference in technologies used, the labour productivity and levels of earnings in the modern sector are much higher than those in the traditional sector. The world is divided into two parts- one of the poor and the other of the rich which is continuously becoming richer. Their desire to develop is natural and understandable because they experience acute physical sufferings as a result of appallingly miserable economic conditions in which they live. Common Characteristics of Developing Economies 1. In several newly emerging countries of Africa too and in some of the Middle Eastern countries the size of their population cannot be regarded as excessive, considering their large expanse. The rate of saving in developing countries is low primarily because of the low level of national income. In India at the time of independence about 60 per cent of population was employed in agriculture and with six decades of development the percentage of population engaged in agriculture has fallen to around 50 per cent in 2011-12. This lowers the quality of the people of developing countries as productive agents and wealth creators. In India the percentage of undernourished persons to total population was high at 21 per cent but Brazil has succeeded in lowering it to 6 per cent of the population. 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. Low per capita real income is one of the most defining characteristics of developing... 2. Besides, there are lot of differences with regard to levels of education, health, food production and availability of natural resources. In Table 4.2, we have given the dependency ratio on the working population. Wider income inequalities. It is less developed than countries classified as developed countries but these nations are ranked higher than least developed countries. The World Bank describes the terms ‘developing world’ and ‘developing country’ as ‘tricky.’ The World Bank is a UN institution that offers loans to developing countries for capital projects.Using the terms is tricky even when people use them cautiously and are not judging the country’s development status.When listing or categorizing countries for statistics and reports, the World Bank does not use the term ‘developing country.’Accord… In many others, the developing countries do not share common interests and may find themselves on opposite sides of a negotiation. Economic development is needed so that living standards of their people may be raised. 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. High incidence rate of poverty. about 260 million people) lives below the poverty line, that is, they are unable to get even sufficient calories of food needed for minimum subsistence, not to speak of minimum clothing and housing facilities. They have now realized that the solution of the problem of poverty lies in economic development. Importance of Agriculture: In developing countries agriculture is the main occupation. Nurkse has called this as “demonstration effect”. The population growths in low-income developing countries have been 2.3 per cent per annum during 1990-2009 and of middle income developing countries as a whole has been 1.3 per cent per annum. Some developing countries are largely dependent on exports of primary products, others do not show such dependence, and others do not show such dependence. Unemployment and Poverty: Low: High: Rates TOS4. Characteristic # 1. 1. According to the World Bank estimates for the year 1995, average per capita income of the low income countries is $ 430 as compared to $ 24,930 of the high-income countries including U.S.A., U.K., France and Japan. That is, population in developing countries has been growing at a much faster rate as compared to the developed countries. fundamental to the comparison of developed and developing countries These characteristics might include: Relatively low incomes per capita and a low level of absolute savings Lower absolute levels of productivity (labour and capital) As against this, for high income countries dependency burden of old persons is relatively very high being 23 per cent. Lower levels of education and skills are not conducive for the development of new industries and for absorbing new technologies to achieve higher levels of production. The desire for development has followed the political freedom of the many poor countries from foreign rule. However, despite this great diversity there are many common features of the developing economies. However, there appears to be a common feature, namely, a rapid rate of population growth. This occurred due to the rapid growth of the modern sector on the one hand and tremendous rise in productivity in agriculture on the other. Under – developed countries are characterized by low output, capital and investment, excessive population growth, agricultural dependence and un-utilisation or underutilization of natural resources. In a number of developing countries, the birth rate exceeds the death rate and there is a high dependency ratio, with a high proportion of children being dependent on a small proportion of workers. The term "developing" describes a currently observed situation and not a changing dynamic or expected progress direction. Various developing countries differ a good deal from each other. The United States is considered a highly developed country, which is a general category for countries that are highly industrialized and have … However, the quantity of capital per head is still very low in them and therefore productivity remains low. There is a very urgent need for economic development in the underdeveloped or poor countries. On the other hand, in the large traditional sector covering agriculture, handicrafts and allied activities, in which there exist extended family system and self-employment, labour-intensive technology is generally used. Times are gone when people believed in their destiny or kismet. This is due to use of capital-intensive technologies in the organised industrial and services sectors. Low Standards of Living, characterized by low incomes, inequality, poor health and inadequate education 2. Lack of Capital Formation 4. High level of unemployment. To quote Amartya Sen, “The valued functioning may vary from elementary ones, such as being adequately nourished and being free from avoidable diseases to very complex activities or personal states such as being able to take part in the life of community and having self-respect”. The Main characteristics of a developed country Are those that account for the social, economic, political and environmental advances made. The per capita income of the people of India is very low in comparison with that of the USA, the UK, Canada, Australia and Japan. This includes health risks such as having low access to safe water and sanitation and hygiene problems. Some of the indicators used to define a state as either developed or developing include the World Bank Income Classification, Human Development Index, and fall in Extreme Poverty among others. Generally speaking, under-developed countries are not deficient in land, water, mineral, forest or power resources, though they may be untapped. The characteristics of developing countries are stated in the following: Low per capita income: Per capita income is very low in developing countries. This is because as a result of rapid population growth, capital per head is still very low. As the gulf between the rich and poor countries widens, the tension in the world will grow. In such an economy, the low level of per capita income limits the size of the market demand for manufacturing output which weakens the inducement to invest. 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. Both children and boys below the age of 15 years (i.e., young ones) and the old people above the age of 65 years and above represent dependency burden as they are unproductive members and are financially dependent on the working population. Two types of statistical data regarding nutrition are given in Table 4.4. In the small modern sector consisting of large-scale manufacturing and mining which provides wage employment, highly capital-intensive techniques imported from the developed countries are used. Major Characteristics of Developing Countries In this lecture, we will discuss some of the salient features of developing countries. The underdeveloped or the developing countries, as these are popularly known, inspite of their diverse structure, have some common characteristics. The people who are undernourished and malnourished often suffer from sickness cannot be efficient and therefore cannot contribute much to the increase in productivity. Besides, it is important to note though at present (2011-12) agriculture employees 50 per cent of workforce, it contributes only 13 per cent to its GDP. The United Nations has set a list of Sustainable Development Goals designed to help developing countries overcome these challenges. If these surpluses are channelled into productive investment, they would tend to increase substantially the level of capital formation. Developing countries are countries with economies that have a low gross domestic product (GDP) per capita and rely heavily on agriculture as the primary industry. At the root of capital deficiency is the shortage of savings. Low Per Capita Real Income. What is more important is that economic development of the poor countries is necessary from the point of view of the richer countries. Emerging markets, also known as emerging economies or developing countries, are nations that are investing in more productive capacity. posted by John Spacey, April 30, 2018 A developed country is a nation that offers economic security and a high quality of life to its population. Country classification 147 Table D Fuel-exporting countries Economies in transition Developing countries Latin America and the Caribbean Africa East Asia South Asia Western Asia Share Your Word File Characteristics of Developing Countries BY Hafeez260 The theme of this essay is: the importance of a study of other semi-developed countries as they struggle for economic growth, the elimination of mass poverty and, at the political level, for democratisation and the reduction of reliance on coercion. There may also be high levels of pollution and a high percentage of people with infectious diseases.

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