Economic Development Of Third World Essay

4827 words - 20 pages

Economic Development of Third World Countries

Abstract
The paper examines social and economic issues relating to the development of Third World countries. The emphasis is placed on five major challenges the underdeveloped and developing nations face on their way to economic growth and prosperity. The report discuses overpopulation problem and also questions the effectiveness of foreign aid. Moreover, it provides information on impact of information technology, as well as addresses the issue of lack of economic diversification. Finally, it explains causes and consequences of corruption on economic growth.
Keywords: Third World, development, overpopulation, foreign aid, technology, ...view middle of the document...

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Classifications
In terms of political rights and civil liberties, eight countries having the most repressive regimes were Cuba, Libya, Myanmar, North Korea, Somalia, Sudan, Turkmenistan and Uzbekistan, according to survey conducted by Freedom House, a watchdog organization. Within these countries, "state control over daily life is pervasive and wide-ranging, independent organizations and political opposition are banned or suppressed and fear of retribution for independent thought and action is part of daily life” (“Survey lists”, 2008).
Similarly, Reporter s Without Borders conducts and publishes annual survey of countries to their respect for press freedom. Access to information is a fundamental human right; however, it is heavily violated in many Third World countries though censorship and suppression of information, by oppression and persecution of journalists and the media. Eritrea, North Korea and Turkmenistan occupied the last three places in the index, immediately preceded at the bottom by Syria, Iran and Bahrain (“Press freedom”, 2012).
According to human development index (HDI), which is published annually by the United Nations (UN) and measures the average achievements in a country in basic dimensions such as life expectancy, education, literacy and standard of living, five countries with lowest scores were from Africa - Congo, Niger, Burundi, Mozambique, and Chad. From 187 nations surveyed, Congo ranked the last with HDI of 0.286 compared to 0.682 of the world’s average. The lowest human development rankings were not only in Africa but also included states in the developing region of Asia and Latin America (“Human development”, 2011).
Another category consist of the world’s most impoverished countries in terms of poverty level based on their low gross national income (GNI), weak human assets and high degree of economic vulnerability. Low income criterion is based on a three-year average estimate of GNI per capita. Weak human resources are measured by indicators of undernourishment, mortality of children, secondary school enrolment and adult literacy rate. High economic vulnerability is defined by population size, remoteness, share of agriculture, concentration of goods exported, forestry and fisheries in GDP, instability of agricultural production and victims of natural disasters. In 2011, forty eight countries were classified as the least developed countries (LDCs) by the UN. Geographically, 33 nations were from Africa, 14 from Asia and Pacific and 1 from Latin America and the Caribbean (“The least developed”, 2012).
Similarly, in terms of GNI based on purchasing power parity (PPP) per capita in International Dollars, the poorest nations with average annual income below $1000 earned by citizens were Congo, Liberia, Eritrea, Burundi and Niger, just to name a few. Sub-Saharan Africa, Middle East and North Africa, South Asia and Pacific raked the lowest among all the regions, according to the World Bank (“GNI per capita”,...

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