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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".
The theory is generally associated with Hirschman. He presented a complete theoretical formulation of the strategy. Underdeveloped countries display common characteristics: low levels of GNI per capita and slow GNI per capita growth, large income inequalities and widespread poverty, low levels of productivity, great dependence on agriculture, a backward industrial structure, a high proportion ...
The Strategy of Economic Development is a 1958 book on economic development by Albert O. Hirschman.Hirschman critiques the theories of balanced growth put forward by Ragnar Nurkse and Paul Rosenstein-Rodan, which call for simultaneous, large-scale increases in investment across multiple sectors to spur economic growth.
The fifth-wave of economic development began in the 1990s with a two-fold interest in providing market solutions and regional strategies for development. The idea of a comparative advantage has been integral to the development of the fifth-wave. This wave has been marked by economic developers who work to emphasize unmet demand, function as a ...
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 ...
A growing body of research has been emerging among development economists since the very late 20th century focusing on interactions between ethnic diversity and economic development, particularly at the level of the nation-state. While most research looks at empirical economics at both the macro and the micro level, this field of study has a ...
The Gender Strategy 2024-2030, unveiled during the International Monetary Fund and World Bank annual meetings in Washington, has set goals by 2030 that aim to enable 300 million more women to use ...
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 ]