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More Developed Countries (MDCs)

Definition

More Developed Countries, or MDCs, are countries with highly developed economies and advanced technological infrastructures relative to other less industrialized nations. They typically have high per capita income levels, low population growth rates, high literacy rates and a strong social support system.

Analogy

If we think of the world as a school, MDCs would be like seniors - they've been around longer, have more experience and resources at their disposal.

Related terms

Less Developed Countries (LDCs): These are countries with a lower living standard, underdeveloped industrial base, and low Human Development Index relative to other countries.

Emerging Economies: These are nations with social or business activity in the process of rapid growth and industrialization.

Human Development Index (HDI): This is a statistic composite index of life expectancy, education level attained by citizens and per capita income indicators which are used to rank countries into tiers of human development.