::Economic development


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{{#invoke:Hatnote|hatnote}} Economic development is a term that economists, politicians, and others have used frequently in the 20th century. The concept, however, has been in existence in the West for centuries. Modernization, Westernization, and especially industrialization are other terms people have used while discussing economic development. Economic development has a direct relationship with the environment.

Whereas economic development is a policy intervention endeavor with aims of economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP. Consequently, as economist Amartya Sen points out, "economic growth is one aspect of the process of economic development".

Economic development sections
Intro  Type  History  Goals  Regional policy  Development indicators and indices  Community competition  See also  References  Further reading