low-income countries: another term for those less developed countries with below-average per capita GDPs; see less developed countries (LDCs)
middle-income countries: another term for those less developed countries with above-average per capita GDPs; see less developed countries (LDCs)
new independent states (NIS): a term referring to all the countries of the FSU except the Baltic countries (Estonia, Latvia, Lithuania)
newly industrializing countries (NICs): former term for the newly industrializing economies; see newly industrializing economies (NIEs)
newly industrializing economies (NIEs): that subgroup of the less developed countries (LDCs) that has experienced particularly rapid industrialization of their economies; formerly known as the newly industrializing countries (NICs); also known as advanced developing countries; usually includes the Four Dragons (Hong Kong, South Korea, Singapore, Taiwan), and Brazil
socialist countries: in general, countries in which the government owns and plans the use of the major factors of production; note - the term is sometimes used incorrectly as a synonym for Communist countries
underdeveloped countries: refers to those less developed countries with the potential for above-average economic growth; see less developed countries (LDCs)
undeveloped countries: refers to those extremely poor less developed countries (LDCs) with little prospect for economic growth; see least developed countries (LLDCs)
This page was last updated on 20 October, 2005
=====================================================================