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Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
Percentages of a country's economy made up by different sectors. Countries with higher levels of socio-economic development tend to have proportionally less of their economies operating in the primary and secondary sectors and more emphasis on the tertiary sector. The less developed countries exhibit the inverse pattern.
[1] 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".
The first use of second-wave strategies was in the late 1960s [8] and early 70s. [1] In second-wave economic development, practitioners began to use strategies to retain and expand existing firms. They also included a focus on small business development [2] through entrepreneurial tools like loans and enterprise zones. [9]
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...
The economic model is a simplified, often mathematical, framework designed to illustrate complex processes. Frequently, economic models posit structural parameters. [1] A model may have various exogenous variables, and those variables may change to create various responses by economic variables. Methodological uses of models include ...
The United States Census Bureau currently conducts a comprehensive Economic Census [1] every five years. The results of this survey are tabulated according to the NAICS and provide statistics about the U.S. economy. The most recent data are from 2007. [2] The 2012 Economic Census is underway with the initial results to be available in December ...
There are many different ways through which states achieved state (fiscal) capacity and this different capacity accelerated or hindered their economic development. Thanks to the underlying homogeneity of its land and people, England was able to achieve a unified legal and fiscal system since the Middle Ages that enabled it to substantially ...