Problem
Economic underdevelopment
Experimental visualization of narrower problems
Other Names:
Underdeveloped economyLow economic development
Nature:
The economic underdevelopment of a country can be measured on its balance sheet and by its gross national product; but in human terms it is the standard of living (as measured by comparative per capita figures) and the vital statistics for birth, health and death, that show what poverty brings. Economic underdevelopment not only means that the health of the people is affected, but also that local education and training and the importation of technologies for increased productively cannot be paid for. Thus there is no way out; and underdevelopment continues, maintained by expensive loans and inappropriate technology transfers.
Incidence:
Gross national product on a per capita basis in USA dollars show that in 1980, the high-income oil exporting countries of the United Arab Emirates, Kuwait and Saudi Arabia ranged from 27,000 to 11,000; and the industrial economies, market and non-market, from 16,000 to 4,000. Over thirty economically underdeveloped countries had GNPs of less than 500; another twenty of less than 1000. Switzerland, with the highest figures for a non-oil exporter, had $16,440; while the lowest was Bhutan with $80 per person.
Broader Problems:
Underdevelopment of countries Narrower Problems:
Inadequate savingsEconomic dependenceEnvironmental povertyEconomic inefficiencyDistortionary tax systemsDomestic market restrictionsDependence on customs revenueUnrelated pioneer institutionsDefaults on international loansUndiversified national economiesInadequate economic policy-makingLimited national credit accessibilityExcessive dependence on export creditsArrested development of labour potentialInadequate investment in capacity buildingUncoordinated development of economic sectorsInaccessible commercial and financial servicesInadequate trade-related structural adjustmentsLack of economic adaptation of indigenous systemsLack of processing industry for primary commoditiesIneffective economic structures in industrial nationsUnderdevelopment of industrial and economic activitiesRestrictions on foreign access to capital bond marketsInadequate development of enterprises in developing countriesUnderparticipation of countries in the communications industryDisadvantages of mechanized food production in developing countries Related Problems:
Economic apathyUnderdeveloped export potentialInsufficient financial resourcesCapitalism Aggravates:
Social underdevelopmentDiscrimination in employmentInsufficient medical suppliesTechnological underdevelopmentInternational economic injusticeBurden of servicing foreign public debtUnequal income distribution between countriesVulnerability of national economies to vagaries of external markets for goods and services Strategies:
Improving skill base of rural womenInvestigating equitable economic growthForming transnational economyDeveloping sustainable economic systemsEnvisioning economic futuresDocumenting population trendsProviding economic policy advice to developing countriesDeveloping human resources to protect vulnerable groupsDeveloping human resources to meet primary health care needsPreparing national environmental synopsesFostering economic cooperation among developing countriesBuilding demographic factors into national policies for sustainable developmentDeveloping human resources to control communicable diseasesUndertaking local infrastructure development projectsDiversifying economies in developing countriesProviding additional gathering placesIncreasing international economic cooperationDeveloping context for social interactionDeveloping citizen economic productivityDeveloping broader regional familiarityDeveloping economicallyDeveloping corporate social engagementDeveloping economic goods and servicesDeveloping human resourcesEnabling economic cooperativesRenewing local economyUniting developing regionsDeveloping economic indicators of human developmentProviding social needs of developing countriesBalancing economies between industrialized and developing countriesUnbalancing economies between industrialized and developing countries Subject(s):
Development → Development Economics → Economic
Economics → Economy
Related UN Sustainable Development Goals:
Problem Type:
C: Cross-sectoral problems Date of last update
29.04.2022 – 06:58 CEST