<–2/”>a >Various problems of developing countries are as follows:-
- The Uneven Pattern of Development:-The development gap has been widening for the very poorest countries.
- Lack of Resources for developement
- Inefficiency in resource use
- Inadequate Skilled human resources
- Stagnation in agricultural development
- Population Growth is one of the central problems of Economic Development. Some developing countries have Population Growth rates in excess of their GDP growth rates and therefore have negative growth rates of per capita GDP.
- Cultural Barriers:- existing social, religious, or legal patterns may make growth more difficult
- Domestic Saving:- is low and thus developing nations are trapped in vicious circle of POVERTY as resources cant be invested in new capital
Washington Consensus describes the conditions that are believed to be necessary for a poorer country to get itself on a path of sustained development. These views are accepted by a number of international agencies, including the World Bank, the IMF, and several UN organizations. The main Elements of this consensus are as follows:
- Government should adopt Sound fiscal policies that avoid large budget deficits. In particular, persistent structural (or cyclically adjusted) deficits should be avoided.
- Government should adopt sound Monetary Policies, with the goal of maintaining low and stable Inflation rates. Exchange rates should be determined by market forces rather than being pegged by central banks.
- The tax base should be broad, and marginal tax rates should be moderate.
- Markets should be allowed to determine prices and the allocation of resources.
- Trade Liberalization-2/”>Liberalization is desirable, and import licensing, with its potential for Corruption, should be avoided.
- Targeted protection for specific industries and a moderate general tariff, say, 10 to 20 percent, may provide a bias toward widening the industrial base of a developing country. But such protection should be for a specified period that is not easily extended.
- Industrial development should rely to an important extent on local firms and on attracting FDI and subjecting it to a minimum of local restrictions that discriminate between local and foreign firms. (Of course, restrictions will be required for such things as environmental policies, but these should apply to all firms, whether foreignowned or locally owned.)
- An export orientation (as long as exports do not rely on permanent subsidies) provides competitive incentives for the building of skills and technologies geared to world markets, permits realization of scale economies, and provides access to valuable information flows from buyers and competitors in advanced countries.
- Education, Health (especially for the disadvantaged), and Infrastructure-2/”>INFRASTRUCTURE Investment are desirable forms of public expenditure. Because future demands are hard to predict and subject to rapid change, a balance must be struck between training for specific skills and training for generalized and adaptive abilities.
- Finally, emphasis needs to be placed on poverty reduction for at least two reasons. First, poverty can exert powerful antigrowth effects. People in poverty will not develop the skills to provide an attractive labour force, and they may not even respond to incentives when these are provided. Malnutrition in early childhood can affect a person’s capacities for life. Second, although economic growth tends to reduce the incidence of poverty, it does not eliminate it.
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Developing countries are countries with a low level of economic development. They are often characterized by high levels of poverty, illiteracy, and inequality. Developing countries are also often subject to political instability and Environmental Degradation.
Emerging countries are countries that are experiencing rapid economic growth. They are often characterized by a young population, a growing middle class, and a strong manufacturing sector. Emerging countries are also often seen as potential future economic powerhouses.
Developed countries are countries with a high level of economic development. They are often characterized by high levels of income, education, and healthcare. Developed countries also have a strong democratic tradition and a stable political system.
There are many problems that developing countries face. Some of the most pressing problems include poverty, hunger, illiteracy, inequality, Unemployment, health problems, environmental degradation, and governance issues.
Poverty is one of the most serious problems facing developing countries. According to the World Bank, over 700 million people in developing countries live on less than $1.90 per day. Poverty can lead to a number of problems, including malnutrition, lack of access to education and healthcare, and social exclusion.
Hunger is another major problem facing developing countries. According to the Food and agriculture Organization of the United Nations, over 800 million people in developing countries are chronically undernourished. Hunger can lead to a number of health problems, including malnutrition, stunted growth, and impaired cognitive development.
Illiteracy is a major problem in developing countries. According to UNESCO, over 100 million children in developing countries do not attend school. Illiteracy can lead to a number of problems, including unemployment, poverty, and social exclusion.
Inequality is a major problem in developing countries. According to the World Inequality Report, the top 1% of earners in developing countries own over 50% of the wealth. Inequality can lead to a number of problems, including social unrest, political instability, and economic stagnation.
Unemployment is a major problem in developing countries. According to the International Labour Organization, the unemployment rate in developing countries is over 10%. Unemployment can lead to poverty, social unrest, and political instability.
Health problems are a major problem in developing countries. According to the World Health Organization, over 1 billion people in developing countries lack access to basic healthcare. Health problems can lead to a number of deaths, as well as a loss of productivity and economic growth.
Environmental degradation is a major problem in developing countries. According to the United Nations Environment Programme, over 2 billion people in developing countries live in areas that are highly vulnerable to environmental degradation. Environmental degradation can lead to a number of problems, including poverty, hunger, and disease.
Governance issues are a major problem in developing countries. According to Transparency International, over two-thirds of developing countries have a high level of corruption. Governance issues can lead to a number of problems, including poverty, inequality, and economic stagnation.
There are a number of things that can be done to help developing countries address these problems. Some of the most important things include:
- Investing in education and healthcare
- Promoting economic growth
- Reducing inequality
- Fighting corruption
- Addressing environmental degradation
- Strengthening governance
By addressing these problems, developing countries can improve the lives of their citizens and create a more prosperous future.
Comparative status of Developing, Emerging and Developed Countries
Developing countries are those that are still in the process of industrialization and economic development. They are characterized by low levels of income, high rates of poverty, and significant inequality. Emerging countries are those that are experiencing rapid economic growth and development. They are characterized by higher levels of income, lower rates of poverty, and less inequality than developing countries. Developed countries are those that have already achieved a high level of economic development. They are characterized by high levels of income, low rates of poverty, and relatively little inequality.
Problems of Developing Countries
Developing countries face a number of challenges, including:
- Poverty: The majority of the world’s poor live in developing countries.
- Inequality: Developing countries are characterized by high levels of inequality.
- Lack of education: Many people in developing countries do not have access to quality education.
- Lack of healthcare: Many people in developing countries do not have access to quality healthcare.
- Environmental degradation: Developing countries are often at the forefront of environmental degradation.
- Conflict: Developing countries are often affected by conflict.
Short Answers
- What are the three main types of countries in the world?
The three main types of countries in the world are developing countries, emerging countries, and developed countries.
- What are the characteristics of developing countries?
Developing countries are characterized by low levels of income, high rates of poverty, and significant inequality.
- What are the characteristics of emerging countries?
Emerging countries are characterized by higher levels of income, lower rates of poverty, and less inequality than developing countries.
- What are the characteristics of developed countries?
Developed countries are characterized by high levels of income, low rates of poverty, and relatively little inequality.
- What are the challenges faced by developing countries?
Developing countries face a number of challenges, including poverty, inequality, lack of education, lack of healthcare, environmental degradation, and conflict.
- What are the solutions to the challenges faced by developing countries?
The solutions to the challenges faced by developing countries are complex and multifaceted. However, some key solutions include:
- Investing in education and healthcare
- Promoting economic growth
- Reducing inequality
- Addressing environmental degradation
- Resolving conflict
Question 1
Which of the following is not a characteristic of a developing country?
(A) Low per capita income
(B) High population growth rate
(C) High level of industrialization
(D) Low level of Human Development
Answer
(C) High level of industrialization
Explanation
Developing countries are characterized by low per capita income, high population growth rate, low level of human development, and low level of industrialization.
Question 2
Which of the following is not a problem faced by developing countries?
(A) Poverty
(B) Hunger
(C) Disease
(D) High level of industrialization
Answer
(D) High level of industrialization
Explanation
Poverty, hunger, disease, and lack of education are some of the major problems faced by developing countries.
Question 3
Which of the following is not a factor that contributes to the problems faced by developing countries?
(A) Colonialism
(B) War
(C) Corruption
(D) High level of industrialization
Answer
(D) High level of industrialization
Explanation
Colonialism, war, corruption, and lack of Natural Resources are some of the factors that contribute to the problems faced by developing countries.
Question 4
Which of the following is not a solution to the problems faced by developing countries?
(A) Foreign aid
(B) Trade
(C) Investment
(D) Industrialization
Answer
(D) Industrialization
Explanation
Foreign aid, trade, and investment are some of the solutions to the problems faced by developing countries. Industrialization is not a solution to the problems faced by developing countries.
Question 5
Which of the following is not a goal of developing countries?
(A) To reduce poverty
(B) To improve education
(C) To increase industrialization
(D) To improve health care
Answer
(C) To increase industrialization
Explanation
The goals of developing countries are to reduce poverty, improve education, improve health care, and promote Sustainable Development. Industrialization is not a goal of developing countries.
Question 6
Which of the following is not a challenge faced by developing countries in achieving their goals?
(A) Lack of resources
(B) Political instability
(C) Corruption
(D) High level of industrialization
Answer
(D) High level of industrialization
Explanation
Lack of resources, political instability, corruption, and lack of technology are some of the challenges faced by developing countries in achieving their goals. High level of industrialization is not a challenge faced by developing countries in achieving their goals.
Question 7
Which of the following is not a way to overcome the challenges faced by developing countries?
(A) Increasing foreign aid
(B) Promoting Good Governance
(C) Investing in education and health care
(D) Increasing industrialization
Answer
(D) Increasing industrialization
Explanation
Increasing foreign aid, promoting good governance, investing in education and health care, and promoting sustainable development are some of the ways to overcome the challenges faced by developing countries. Increasing industrialization is not a way to overcome the challenges faced by developing countries.