The main causes of underdevelopment of an economy include:
- poverty;
- child marriage;
- illiteracy;
- high population growth rate;
- corruption;
- high dependence on agriculture;
- economic inequality;
- lack of structural, institutional, and technical change.
What are the factors of underdeveloped countries?
Characteristics of Underdeveloped Economies
- Low Per Capita Income.
- Slow Growth Rate of Per Capita Income.
- Economic Inequalities.
- Low Level of Living.
- Low Rate of Capital Formation.
- Backward Techniques of Production.
- High Growth Rate of Population and Dependency Burden.
- Low Productivity of Labour.
What are the factors and problems of underdevelopment?
The causes of under development are varied and widespread. The literature lists a plethora of them; poverty, over-population, geography and climate, poor education and healthcare, international policies, war, migration and inequality, which by no means exhausts the list.
What are the factors responsible for underdevelopment in third world?
The reasons for their underdevelopment are numerous, ranging from, poverty, political instability, corruption, externally oriented economy, ethnicity, conflicts, weak states, poor leadership e. t. c. In this paper, I will be focusing on “poverty” as the major cause of underdevelopment in third world countries because
What are the main causes of underdeveloped economy?
Unemployment; Poverty; child marriage; Injustice; High population growth rate; illiteracy; Corruption; High Dependence on Agriculture; Economic inequality; Corruption; Lack of structural, institutional and technical change.
What are the types of underdevelopment?
The third theory is underdevelopment theory. This theory have explain three types of country which is core, semi-periphery and periphery country.
What is the process of underdevelopment?
Underdevelopment is viewed as an externally-induced process which is perpetuated by a small but powerful domestic elite who form an alliance with the international capitalist system. The “development of underdevelopment” is therefore systemic and path-dependent.
What is the problem of underdevelopment economy?
Some of the common characteristics of the underdeveloped economy are low per capita income, economic inequalities, the slow growth rate of per capita, low-productivity labour and lower level of living, rudimentary techniques of production, low rate of capital formation, lack of resource utilization and similar things
What are the major problems of development?
The Challenges of Development Projects
- Poor project planning.
- Inadequate management skills.
- Lack of accountability.
- Lack of stakeholder involvement.
- Unrealistic plans.
- No measure to evaluate quality.
- Poor, inconsistent project management discipline.
- Duplication of efforts.
What are the specific problems of an underdeveloped economy?
Underdeveloped countries suffer from a number of problems such as wide spread poverty, problem of unemployment and vast inequalities in the distribution of income and wealth.