| Summary/Abstract |
THERE IS NO SINGLE generally accepted definition of the term "developing country." The United Nations system has no standard criteria for a country to be categorized as developed or developing. There is, however, a loose consensus in the world's academia on reasons for putting a country in either of the two groups. Such criteria are a country's average per capita income; the degree of industrialization of its economy; the maturity of market relations; the structure of its foreign trade; its involvement in global financial and economic processes; and guarantees of property rights and human rights in it.
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