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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".
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, education and workplace conditions, whether ...
The U.S. Economic Development Administration (EDA) is an agency in the United States Department of Commerce that provides grants and technical assistance to economically distressed communities in order to generate new employment, help retain existing jobs and stimulate industrial and commercial growth through a variety of investment programs.
In the development of economic theory, the distribution of income was considered to be between labor and the owners of land and capital. [44] In recent decades there have been several Asian countries with high rates of economic growth driven by capital investment.
An economic development organization (EDO) is an organization dedicated to the economic development of a region, be it a subnational area such as a town, city, county, province, or state; a whole nation; or transnational regions unified through economic integration. [1]
In July 2024, the U.S. Department of Commerce’s Economic Development Administration, as part of its Tech Hubs program, officially designated Colorado and New Mexico as leading hubs for quantum ...
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 ...
Community economic development is an alternative to conventional economic development. Its central tenet is that "problems facing communities—unemployment, poverty, job loss, environmental degradation and loss of community control—need to be addressed in a holistic and participatory way."