What is economic growth: (Essay Example), 593 words.

Second, economic growth leads to financial development and that where there is economic growth financial development follows (i. e. Robinson, 1952). The third view, however, contends that both financial development and economic growth Granger cause one another.

Economic Development is the process focusing on both qualitative and quantitative growth of the economy. It measures all the aspects which include people in a country become wealthier, healthier, better educated, and have greater access to good quality housing.

Essay China 's Economic Growth And Development. Since the late 1970s, China has experienced unprecedented economic growth and development. Established in 1949, the People’s Republic of China, under the governance of Mao Zedong and the Chinese Communist Party (CCP) set forth to achieve national unity, social and economic change and freedom from foreign interference (Cienciala, 1999).

Economic Growth. A country's general economic health can be measured by looking at that country's economic growth and development. Let's take a separate look at what indicators comprise economic.

Economic growth merely refers to an increase in the real Gross Domestic Product, or GDP per capita over a period of time. It is natural to be misled by the idea that economic growth is the key to economic development and perhaps a condition of development itself, but development is more than simply increasing economic output i.e. GDP per capita.

Economic Growth and Development Essay Through the beginning of the advancement of economics of creation, no distinction was attracted between the economic growth and economic development. During the 70s, the economists thought of differentiating the economic growth and economic expansion.

But the point to be noted is that economic growth is a long-term phenomenon about the change in total economic activity of an economy. Economic Development Some economists hold a view that the economic development is not much different from economic growth. For them, both are processes of long-term increase in per capita income.

Economic growth has been used with other terms such as development, modernization, westernization and industrialization. It is, in other words, a transition from a simple, low-income economy to a modern, high- income economy.

Economic Growth (Essay Technique Video) Economic growth is best defined as a sustained increase in a nation’s long-run productive potential or capacity. Growth comes from an expansion of both the quantity and quality of factor inputs reflected in higher productivity and the growth-enhancing effects of innovation.

Analysts are of the view that there is a huge difference between economic development and economic growth. Economic development involves the use of policies to bring changes to the country’s economy and to make sure that the country’s economy is aligned with the international development criteria.

For centuries, scientists from various scientific fields have been leading lively discussions on the (bidirectional) relationship between population growth and economic growth.

This Essay on Sustainable Development’ and Economic Growth’ Relationship was written and submitted by user Cailyn Cruz to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.