Given that the developing countries today present a highly differentiated picture, is it appropriate to continue to speak of a "Third World"? If so, how does this group of countries appear to the present-day observer? What is their position within the world economy? What problems and challenges...

Comparative advantage, government incentives and entrepreneurial dynamics as determinants of a country’s export performance are discussed in this article. The author’s particular attention is focussed on the present situation and future perspectives of the less developed countries.