Common characteristics of developing countries:
- low standard of living (i.e. too many without access to clean water, fighting diarrheal disease, losing children to "preventable" diseases like smallbox or cholera)
- high growth rate of population and, thus, high dependency ratios (% non-working due to age/%working)
- low productivity per worker
- high unemployment
- domination by "rich" countries like the US, EU, Japan
- too much focus on raw materials / agricultural sector
- presence of black markets
Differences between developing countries:
- physical geography
- size : Sudan vs. Lesotho
- endowment of natural resources : Nigeria (rich) vs. Bangladesh (poor)
- history : type of colonization : Canada (neo-Europes) vs. Vietnam (extractive) *See Schmidt's MSc thesis in economics and history: see post from 1/1/10 (first post on blog)
- demographic factors: religion (Islamic Oman, Christian Bolivia) and racial/ethnic (Cambodia vs. Nicaragua)
- GDP per capita (Mexico - higher vs. Sierra Leone - lower)
- type of industry (Bangladesh - agriculture, Maldives - tourism)
- political structure (Iran - theocracy, India - democracy, Myanmar - military junta, Tonga - monarchy, single party - Cuba)
LINK: UNDP for Beginners - UNDP for Beginners
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