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Whereas economic development is a policy intervention aiming to improve the well-being of people, economic growth is a phenomenon of market productivity and increases in GDP; economist Amartya Sen describes economic growth as but "one aspect of the process of economic development".
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries.
The concept of human development expands upon the notion of economic development to include social, political and even ethical dimensions.Since the mid-twentieth century, international organisations such as the United Nations and the World Bank have adopted human development as a holistic approach to evaluating a country’s progress that considers living conditions, social relations ...
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a social science that studies the production, distribution, and consumption of goods and services. [3] [4] Economics focuses on the behaviour and interactions of economic agents and how economies work.
Developmentalism is a cross-disciplinary school of thought [1] that gave way to an ideology of development as the key strategy towards economic prosperity. The school of thought was, in part, a reaction to the United States’ efforts to oppose national independence movements throughout Asia and Africa, which it framed as communist. [ 1 ]
The economic side of Sen's work can best be categorized under welfare economics, which evaluates the effects of economic policies on the well-being of peoples. Sen wrote the influential book Development as Freedom which added an important ethical side to development economics .
World Development Indicators have improved relative to the year 1990. 75% of poverty reduction shown happened in China. [1]International development or global development is a broad concept denoting the idea that societies and countries have differing levels of economic or human development on an international scale.
Development studies, examines socioeconomic growth and development, especially in developing countries, and may overlap with postcolonial studies; Development theory; Economic development, the process by which a nation improves the economic, political, and social well-being of its people