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 what is a developing economy?

 

A developing economy, also called a less-developed economy (LDE), is a nation with a low living standard, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries. There is no universal, agreed-upon criteria for what makes a country developing versus developed and which countries fit these two categories, although there are general reference points such as the size of a nation's GDP compared to other nations.

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it typically refers to a country with a relatively high level of economic growth and security. Some of the most common criteria for evaluating a country's degree of development are per capita income or gross domestic product , level of industrialization, general standard of living and the amount of widespread infrastructure. Increasingly other non-economic factors are included in evaluating an economy or country's degree of development, such as the Human Development Index (HDI) which reflects relative degrees of education, literacy and health.

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