The structure of third world economy

Any portrayal of the structural diversities of developing nations requires an examination of 8 critical components:

1.     the size of the country(geographic area, population and income)

2.     It’s historical and colonial background.

3.     Its endowment of physical and human recourses

4.     It’s ethnic and religious composition

5.     The relative importance of its public and private sectors

6.     The nature of its industrial structure

7.     Its degree of dependence on external economics and political forces

8.     The distribution of power and the institutional and political structure within the nation

 Of the 145 developing countries that were full members of the united nation in 1992, 90 had fewer than 15 million people, 83 fewer than 5 million. Large and populated nations like, brazil, India, Egypt, and Nigeria with the small countries. Most Africans and Asian nations were at one time or another colony of western European countries, primarily Britain and France but also Belgium, the Netherlands, Germany, Portugal, and Spain. a country’s potential for economic growth is greatly influenced by its endowment of physical recourse and human recourses. Today, more than 40% of the world’s nations have no more than five significant ethnic populations. Over half of the worlds LDCs have recently experienced some form of inherent conflict.