ABSTRACT
Three broad categories of countries may be identified based on the Gross National Income per capita (GNI) and the classification as given by United Nations Conference on Trade and Development (UNCTAD) (Schultz, et al., 2005). These are: the developed, the emerging and the least developed. GNI is defined as the Gross Domestic Product (GDP) plus net receipts of primary income (compensation of employees and property income) from abroad, divided by the midyear population. The UNCTAD classification is based on factors as: low national income (per capita GDP under US$ 900), weak human assets (a composite index based on health, nutrition and education indicators) and high economic vulnerability (a composite index based on indicators of instability of agricultural production and exports, inadequate diversification and economic smallness) (Schultz, et al., 2005).
