Economic development Essays

  • Economic Development And Economic Growth

    1995 Words  | 8 Pages

    2.2.2 Economic development and Economic growth Economic development is defined as the attainment of a number of ideals of modernization such as a rise in productivity, social and economic equality, improved institutions and values (Adedeji et al, 2014). Economic development is thus an important aspect of general development in any nation (faodun et al, 2010). According to litman (2010), economic development refers to progress toward a community’s economic goals such as increased employment, income

  • Economic Development And Sustainable Development

    1090 Words  | 5 Pages

    Development may be associated with structural transformation from a primary good based production to manufacturing and service base economy. It may also be associated with social aspects such as poverty, employment state and equality. Commonly, countries tend to measure economic development to determine the overall development. The scope of economic development includes the process and policies by which a nation improves the economic, political, and social well-being of its people. 1 The

  • Democracy And Economic Development

    1624 Words  | 7 Pages

    look into the relationship between democracy and economic development. The paper opens with a brief look into the importance of economic development, and then looks into democracy and its elements and how they factor into the growth of the economy, with some hypotheses from specialists of the field. Cases of economic growth in non-democratic countries are also delved into, namely the case of China. There the paper analyzes what results in economic growth in the absence of democracy. In the end we

  • Theories Of Economic Development

    3463 Words  | 14 Pages

    A major goal for developing countries is economic development or economic growth.However, the two terms are not identical. Growth may be necessary but not sufficient for development. This chapter gives a brief background on economic development. It also explains different methods of classifying countries according to United Nations and World Bank criteria. Economic development is usually measured using Gross Domestic Product (GDP), Human Development Index (HDI) and Purchasing Power Parity (PPP).

  • Construction Economic Development

    1215 Words  | 5 Pages

    In any country’s development process construction industry plays a main character both growth-initiating and growth-dependent. For social economic development which provide to the general economic growth, buildings and infrastructure works had organized by the industry. An increase in disposal incomes, generating demand for extra construction activity is leaded by the success of economic development. The growth and development of the construction industry had implicated by a country’s hereafter expectation

  • Essay On Economic Growth And Economic Development

    1597 Words  | 7 Pages

    Economic growth and economic development In measuring and identifying the factors that stimulate the growth of the economy of a nation such as the Republic of India, a distinction needs to be made between economic growth and economic development. For a nation to experience economic growth, there must be an increase in the gross domestic product (GDP), which is a qualitative measure of the value of all finished goods and services produced in that country within a period of time. However, economic

  • Hydro Economic Development

    1535 Words  | 7 Pages

    Hydroelectric Dams and Socio-economic Development Construction of dams has been one vital response to challenges emanating from water management for irrigation and/or power supply. These dams have often served as vital engine of growth for any countries, especially in South-East Asia. Literature on hydropower dams and economic development seem to implicitly cite correlation between the number of dams a region has and its level of development, although many of these literature have not explicitly

  • Economic Development In Tanzania

    1327 Words  | 6 Pages

    ON INTER-COUNTRY COMPARISONS BASED ON WORLD DEVELOPMENT INDICATORS Submitted By: Deepti Nikita Kartik Introduction: Economic development is the development of economic wealth of countries, regions or communities for the well-being of their inhabitants. From a policy perspective, economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating and/or retaining jobs and

  • Subsidy In Economic Development

    975 Words  | 4 Pages

    Subsidy plays very important role in the economic development of any country. It brings out desired changes by stabilizing the price of essential good & services, optimum allocation of resources, redistribution of income in favor of poor people and thus achieving both the objective growth & of the equity of nation. Subsidy is used to modify market outcomes, especially to take account of positive externalities, and, thus promote certain well-defined redistributive objectives. Prest [1974] had studied

  • The Importance Of Entrepreneurship On Economic Development And Development

    986 Words  | 4 Pages

    high level of importance that exists in terms of the effect entrepreneurship has on the economic development and growth of a country. This is seen in terms of how entrepreneurship is dependent on innovation for success which results in growth as measured by the GDP (Drotskie, Jacobs, Nieuwenhuizen and Oosthuizen, 2017). The outcome of growth facilitates economic development, highlighted in the level of economic opportunities available and the well-being of society’s individuals (Toma, Grigore and

  • Economic Growth And Economic Development

    1037 Words  | 5 Pages

    subject of Economics, it is widely agreed upon that economic growth is not equivalent to economic development, despite the early teachings of traditional economic theories. Economic growth is often simply defined to be the increase in real output of the economy over time, while economic development is far more complex and multidimensional concept. It must be noted that economic development and its definition is highly subjective and relative, and thus the very basic definition of development, “an improvement

  • Sustainable Development: Assignment: Economics Of Sustainable Development

    2002 Words  | 9 Pages

    Assignment: Economics of Sustainable Development Issues of Sustainable Development (C-303) Assigned by Mohammad Ehsanul Kabir Prepared By Sujoy Barua - 13112002 August 13, 2014 Dhaka School of Economics Introduction: Environment sustainability index measures the performance of a countries environmental condition due to the socio economic and environmental degradation by the natural and human made. Due to the economic progress the drawing out of natural resources and its uses

  • Economic Development In Africa

    907 Words  | 4 Pages

    demand for service delivery such as sanitation, policing, school, transportation, water, electricity and the like (J. Rapley, 2002 p. 132-34). Development is defined as the process used to explain the progressive social, political and economic advancement of a society, and it is measured by an increase in the standard of living of people. Within the development paradigm, different methodologies have

  • Neoliberal Economic Development

    1671 Words  | 7 Pages

    regulated and controlled in the Bretton Woods period. The liberalisation of cross-country capital flows in the 1980s was a crucial driver of the process of globalisation. This process produced a growing global interconnection among decision makers in economics and finance, and

  • Economic Development: Explain The Concept Of Economic Growth

    800 Words  | 4 Pages

    2.1.2 CONCEPT OF ECONOMIC GROWTH There are different meanings among scholars, about the concept of economic growth. For example, while Herrick and Kindleberger (1983) put it that economic growth involves employment of factors of production in order to produce a higher level of outputs that can improve the quality and standard of living of the people. Economic growth does not only come from expansion or physical factors but due to improvement in both human and physical as well as volume trade (Ranis

  • Economic Development In Vietnam

    745 Words  | 3 Pages

    The process of Vietnamese economic development after the war can be divided into two periods: the 10-year period of the centrally planned economy from 1975 to 1985 and the subsequent years of economic reform when Vietnam shifted toward a market-led economy. After more than a century of foreign domination and 21 years of war and division, Vietnam became an independent nation. North Vietnam’s communist party, Lao Dong, merged with the People’s Revolutionary Party of South Vietnam to form the Communist

  • The Importance Of Economic Development

    1155 Words  | 5 Pages

    Development refers to any positive change, that is, the process of improving a subject from one state to another. Development is important in all aspects as it reflects growth and progress of a nation, person or idea. (Sid Israel, 2017) described development as a process that creates growth, progress, positive change or the addition of physical, economic, environmental, social and demographic components. The purpose of development is to facilitate a rise in the level and quality of life of the population

  • Economic Development In China

    1426 Words  | 6 Pages

    China, considered as one of the miracles in rapid economic growth in the past three decades, has shown the world its enormous potential in economic development and has been able to bring millions and millions of people out of poverty. Nevertheless, China still faces a lot of issues during the development: The huge income inequality gap not only exists when comparing rural and urban China, but also can be commonly seen regionally, especially between the east and the west. The environmental damage

  • Economic Development In Australia

    1101 Words  | 5 Pages

    Australia from the 1840s to the 1890s is influenced by the dramatic growth of economic activity, resulting from the expansion of the pastoral and mining industries and of the urban centers. The gold rushes of the 1850s provided some stimulus, especially in Victoria, but the important factors behind the sustained economic boom of 1860-90 was migration, British capital investment and active colonial participation in the development of public works, pastoral farming, mining, small-scale manufacturing and

  • Importance Of Infrastructure In Economic Development

    765 Words  | 4 Pages

    Abstract: Infrastructure is indispensable to achieve the main development targets in developing countries, such as urbanization, industrialization, export promotion, equitable income distribution, and sustainable economic development. Late developing countries can benefit from previous development experience provided they choose the right model. However, the precise relationship between infrastructure and economic growth is still frequently debated. In this paper we will try to highlight how the