Third World Debt

Third World

Third World, the technologically less advanced, or developing, nations of Asia, Africa, and Latin America, generally characterized as poor, having economies distorted by their dependence on the export of primary products to the developed countries in return for finished products. These nations also tend to have high rates of illiteracy, disease, and population growth and unstable governments. The term Third World was originally intended to distinguish the nonaligned nations that gained independence from colonial rule beginning after World War II from the Western nations and from those that formed the former Eastern bloc, and sometimes more specifically from the United States and from the former Soviet Union (the first and second worlds, respectively). For the most part the term has not included China. Politically, the Third World emerged at the Bandung Conference (1955), which resulted in the establishment of the Nonaligned Movement. Numerically, the Third World dominates the United Nations, but the group is diverse culturally and increasingly economically, and its unity is only hypothetical. The oil-rich nations, such as Saudi Arabia, Kuwait, and Libya, and the newly emerged industrial states, such as Taiwan, South Korea, and Singapore, have little in common with desperately poor nations, such as Haiti, Chad, and Afghanistan.

See A. R. Kasdan, The Third World: A New Focus for Development (1973); E. Hermassi, The Third World Reassessed (1980); H. A. Reitsma and J. M. Kleinpenning, The Third World in Perspective (1985); J. Cole, Development and Underdevelopment (1987).

The Columbia Encyclopedia, 6th ed. Copyright© 2015, The Columbia University Press.

Third World Debt: Selected full-text books and articles

Third World Debt and International Public Policy By Seamus O'Cleireacain Praeger Publishers, 1990
First World Governments and Third World Debt By Bulow, Jeremy Brookings Papers on Economic Activity, Spring 2002
World Debt and the Human Condition: Structural Adjustment and the Right to Development By Ved P. Nanda; George W. Shepherd Jr.; Eileen McCarthy-Arnolds Greenwood Press, 1993
World Debt and Stability By George Macesich Praeger Publishers, 1991
The Relationship between Aid and Debt in Developing Countries By Cahill, Miles B.; Isely, Paul N American Economist, Vol. 44, No. 2, Fall 2000
Peer-reviewed publications on Questia are publications containing articles which were subject to evaluation for accuracy and substance by professional peers of the article's author(s).
Odious Debt: When Dictators Borrow, Who Repays the Loan? By Kremer, Michael; Jayachandran, Seema Brookings Review, Vol. 21, No. 2, Spring 2003
U.S. Protectionism and the World Debt Crisis By Edward John Ray Quorum Books, 1989
Librarian’s tip: Chap. 2 "Gatt and the Developing Countries" and Chap. 4 "The World Debt Problem"
Development in the Third World: From Policy Failure to Policy Reform By Kempe Ronald Hope M. E. Sharpe, 1996
Librarian’s tip: Chap. 3 "Foreign Aid and Foreign Debt"
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