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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 ...
Summary indices on poverty and human development have been calculated for all 277 European regions. In addition, the European Commission provides a list of different indicators that can be categorised into five categories : GDP and other macro-economic indicators - provided by the System of National Accounts (SNA).
These are referred to as the policy goals: the outcomes which the economic policy aims to achieve. To achieve these goals, governments use policy tools which are under the control of the government. These generally include the interest rate and money supply , tax and government spending, tariffs, exchange rates , labor market regulations, and ...
Daphne Greenwood and Richard Holt distinguish economic development from economic growth on the basis that economic development is a "broadly based and sustainable increase in the overall standard of living for individuals within a community", and measures of growth such as per capita income do not necessarily correlate with improvements in ...
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."
Whereas fiscal lawmaking is left up to the three branches of government, the Fed sets monetary policy, mainly by adjusting interest rates, the money supply and bank regulations to foster economic ...
Examples of good governance leading to economic development and poverty reduction include Thailand, Taiwan, Malaysia, South Korea, and Vietnam, which tend to have a strong government, called a hard state or development state. These "hard states" have the will and authority to create and maintain policies that lead to long-term development that ...
Genuine progress indicator (GPI) is a metric that has been suggested to replace, or supplement, gross domestic product (GDP). [1] The GPI is designed to take fuller account of the well-being of a nation, only a part of which pertains to the size of the nation's economy, by incorporating environmental and social factors which are not measured by GDP.