Developing Country - Typology and Names of Countries

Typology and Names of Countries

Countries are often loosely placed into four categories of development. Each category includes the countries listed in their respective article. The term "developing nation" is not a label to assign a specific, similar type of problem.

  1. Newly industrialized countries (NICs) are nations with economies more advanced and developed than those in the developing world, but not yet with the full signs of a developed country. NIC is a category between developed and developing countries. It includes Brazil, China, India, Indonesia, Malaysia, Mexico, Philippines, South Africa, Thailand and Turkey.
  2. The Advanced Emerging Markets are: Brazil, Hungary, Malaysia, Mexico, Poland, South Africa, Taiwan and Turkey.
  3. Countries with long-term civil war or large-scale breakdown of rule of law ("failed states") (e.g. Democratic Republic of Congo, Afghanistan, Somalia) or non-development-oriented dictatorship (North Korea, Myanmar and Zimbabwe).
  4. Some developing countries such as Antigua and Barbuda, Bahamas, Barbados, Brunei, Equatorial Guinea, Trinidad and Tobago and the Arab states of the Persian Gulf have been classified as "Developed countries" by the World Bank.

Read more about this topic:  Developing Country

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