Search results
Results From The WOW.Com Content Network
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 ...
Rostow regards the development of leading sectors as the 'analytical bone structure' of the stages of economic growth. There are generally three sectors of an economy: Primary Sector - Agriculture. Secondary Sector - Manufacturing. Tertiary Sector - Services.
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 Harrod–Domar model is a Keynesian model of economic growth. It is used in development economics to explain an economy's growth rate in terms of the level of saving and of capital. It suggests that there is no natural reason for an economy to have balanced growth.
Michael Paul Todaro (born May 14, 1942) is an American economist and a pioneer in the field of development economics . Todaro earned a PhD in economics from Yale University in 1968 for a thesis titled The Urban Employment Problem in Less Developed Countries – An Analysis of Demand and Supply. [1] Todaro was Professor of Economics at New York ...
The "Dual Sector Model" is a theory of development in which surplus labor from traditional agricultural sector is transferred to the modern industrial sector whose growth over time absorbs the surplus labor, promotes industrialization and stimulates sustained development. In the model, the traditional agricultural sector is typically ...
Endogenous growth theory holds that investment in human capital, innovation, and knowledge are significant contributors to economic growth. The theory also focuses on positive externalities and spillover effects of a knowledge-based economy which will lead to economic development. The endogenous growth theory primarily holds that the long run ...
UN Trade and Development(UNCTAD) is an intergovernmental organizationwithin the United Nations Secretariatthat promotes the interests of developing countriesin world trade.[1] It was established in 1964 by the United Nations General Assembly(UNGA) as the United Nations Conference on Trade and Developmentbut rebranded to its current name on the ...