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In economics, the study of economic development was born out of an extension to traditional economics that focused entirely on the national product, or the aggregate output of goods and services. Economic development was concerned with the expansion of people's entitlements and their corresponding capabilities, such as morbidity, nourishment ...
Economic development has existed even at a basic level since the earliest recorded communities. However, in the US and several other countries, the concept of community economic development emerged "in response to tenacious poverty and the need for affordable housing, good jobs, affordable health care and quality of life matters needed for human existence."
Local economic development (LED) is an approach to economic development, of note in the developing world that, as its name implies, places importance on activities in and by cities, districts and regions. Local economic development combines economic development activities, urban planning, infrastructure development and social development ...
These programs are defined by the federal government as: "any function of a Federal agency that provides assistance or benefits for: (1) a State or States, territorial possession, county, city, other political subdivision, grouping, or instrumentality thereof; (2) any domestic profit or nonprofit corporation or institution; or (3) an individual ...
Rural development actions are intended to further the social and economic development of rural communities. [16] [17]Rural development programs were historically top-down approaches from local or regional authorities, regional development agencies, NGOs, national governments or international development organizations. [18]
USAID plans its work in each country around an individual country development program managed by a resident office called a "mission". The USAID mission and its U.S. staff are guests in the country, with a status that is usually defined by a "framework bilateral agreement" between the government of the United States and the host government. [71]
Social protection consists of policies and programs designed to reduce poverty and vulnerability by promoting efficient labour markets, diminishing people's exposure to risks, [2] and enhancing their capacity to manage economic and social risks, such as unemployment, exclusion, sickness, disability, and old age. [3]
An economic development incentive is known as "cash or near-cash assistance provided on a discretionary basis to attract or retain business operations." [1] These benefits principally encompass tax and economic incentives provided by federal, state, or local governmental bodies.