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Economic development
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Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative changes in the economy. Such actions can involve multiple areas including development of human capital, critical infrastructure, regional competitiveness, environmental sustainability, social inclusion, health, safety, literacy, and other initiatives. Economic development differs from economic growth. Whereas economic development is a policy intervention endeavor with aims of economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP. Consequently, as economist Amartya Sen points out: “economic growth is one aspect of the process of economic development.”[1] Contents[hide] * 1 Term
From Wikipedia, the free encyclopedia
Jump to: navigation, search Economics | GDP per capita by country | General classifications | * Microeconomics * Macroeconomics * History of economic thought * Methodology * Heterodox approaches | Technical methods | * Mathematical * Econometrics * Experimental * National accounting | Fields and subfields | * Behavioral * Cultural * Evolutionary * Growth * Development * History * International * Economic systems * Monetary and Financial economics * Public and Welfare economics * Health * Education * Welfare * Population * Labour * Personnel * Managerial * Computational * Business * Information * Game theory * Industrial organization * Law * Agricultural * Natural resource * Environmental * Ecological * Urban * Rural * Regional * Geography * Expeditionary | Lists | * Economists * Journals * Publications * Categories * Index * Outline | * Business and economics portal | * v * t * e |
Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative changes in the economy. Such actions can involve multiple areas including development of human capital, critical infrastructure, regional competitiveness, environmental sustainability, social inclusion, health, safety, literacy, and other initiatives. Economic development differs from economic growth. Whereas economic development is a policy intervention endeavor with aims of economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP. Consequently, as economist Amartya Sen points out: “economic growth is one aspect of the process of economic development.”[1] Contents[hide] * 1 Term
References: 2. ^ O 'Sullivan, A. and Sheffrin, S. M. (2003). Economics: Principles in action. Pearson Prentice Hall, Upper Saddle River, New Jersey. 471pgs. 5. ^ Mansell, R & and Wehn, U. 1998. Knowledge Societies: Information Technology for Sustainable Development. New York: Oxford University Press. 6. ^ Schumpeter, J. & Backhaus, U., 2003. The Theory of Economic Development. In Joseph Alois Schumpeter. pp. 61-116. Available at: http://dx.doi.org/10.1007/0-306-48082-4_3 [Accessed October 19, 2009]. 9. ^ Hirschman, A. O. (1981). The Rise and Decline of Development Economics. Essays in Trespassing: Economics to Politics to Beyond. Pp. 1-24 10 11. ^ Anand, S. & Sen, A., 2000. Human Development and Economic Sustainability. World Development, 28(12), 2029-2049. 12. ^ Anand, S. & Ravallion, M., 1993. Human Development in Poor Countries: On the Role of Private Incomes and Public Services. The Journal of Economic Perspectives, 7(1), 133-150. 13. ^ Smith, Esther (1988-05-05). "DoD Unveils Competitive Tool: Project Socrates Offers Valuable Analysis". Washington Technology. 14 15. ^ Porter, M. E. (1998). Clusters and the New Economics of Competition. Harvard Business Review. Pp. 77-90.