11 Pages Posted: 20 Nov 2010
Date Written: November 19, 2010
The economically backward countries are referred to as “Third World Countries”, the term third world is considered to be derogatory and hence these countries are referred to as “Developing Countries”. The reasons for underdevelopment are numerous. In this paper the researcher has examined the different theories which explain underdevelopment in the third world countries. The third world countries have some features in common, they have been discussed in the paper. The various causes for underdevelopment have also been explained and examined. In conclusion the researcher has attempted to propose some solutions to the problems faced by the underdeveloped or developing countries.
Keywords: Third World, Underdevelopment, Modernisation Theory, Third World Debt Crisis, Economic Aid, Free Trade
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