economic development

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Economic developmentclick for a larger image
Fig. 51 Economic development. The income per head and economic structure for selected countries, 2002. Source: World Development Report , World Bank, 2004.

economic development

a process of economic transition involving the structural transformation of an economy through INDUSTRIALIZATION and a raising of GROSS NATIONAL PRODUCT and INCOME PER HEAD.

Generally speaking, DEVELOPING COUNTRIES are characterized by subsistence primary production (mainly agriculture) and low levels of income per head; DEVELOPED COUNTRIES are characterized by large manufacturing and service sectors and high levels of income per head.

Capital INVESTMENT is a significant factor in the transformation process. Investment not only enlarges an economy's capacity to produce goods and services and raises the PRODUCTIVITY of resources but also, via multiplier effects, increases aggregate demand and national income. An increase in national income raises the level of savings, reby providing the finance for further capital accumulation. See DEMOGRAPHIC TRANSITION, STRUCTURE OF INDUSTRY, ECONOMIC AID.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Roth, a consultant who has worked in the corporate world and taught management theory, reviews management theories like Six Sigma, downsizing, competition, performance appraisals, quality improvement and Baldrige criteria, and management by objective and their problems, and offers alternatives to enable a more positive work culture, such as the systems approach to quality improvement, creating more productive executives, designing more profitable businesses, improving workplace ethics, emphasizing a development ethic over a work ethic, better training, improving safety, focusing unions on wider issues, and updating the concept of laissez-faire economics.
Crocker, "Functioning and Capability: The Foundations of Sen's and Nussbaum's Development Ethic, Part 2." In Women, Culture and Development: A Study of Human Capabilities, Martha Nussbaum and Jonathan Glover (eds.).
It is proud of its strong training and development ethic, its flexible, 'can-do' attitude to problem-solving, and its friendly and client-focused work culture, which has led it to have a very low staff turnover rate for its industry.
Though best known for the millions of seashells that blanket their beaches, the islands' greatest resources may be the hard-headed, resident mavericks who have for decades eschewed the development ethic that pervades much of Florida.
Particularists either reject the existence of universal principles or affirm only the procedural principle that each nation or society should draw on its own traditions and decide its own development ethic and path.
In 1971, development ethics was inaugurated as a new field of study with the publication of 'The Cruel Choice' by the theorist Denis Goulet.
The articles dealing explicitly with research ethics were an agenda arguing for establishing development ethics (Crocker, 1991), an editorial reflecting on personal behavior in development practice (Chambers, 1997), a discussion of the challenges of researching gender violence in schools (Leach, 2006), a reflection on participatory methods for compiling national statistics (Barahona & Levy, 2007), a discussion of tensions in combining qualitative and quantitative research (Kanbur & Shaffer, 2007), a reflexive discussion of ethical issues for a researcher in empirical economics (Jackson, 2009), and a discussion of feminist epistemologies in development studies (Jackson, 2006).
One has to go back to 1949 and the United Nations Scientific Conference on the Conservation and Utilization of Resources to find minerals and mining included as part of global environmental and development ethics. That conference was divided into four categories: agriculture, forestry, fisheries, and minerals.
The two-day symposium will include four sessions, the first on morals and heritage, the second on 'Islamic Ethics and the Needs of the World', the third on the Nation and Cultural Development Ethics and the fourth on 'Ethics and Information Society and Ethics and Society Institutions'.
New directions in development ethics; essays in honor of Denis Goulet.
New Directions in Development Ethics: Essays in Honor of Denis Goulet is a scholarly anthology of essays from economists, philosophers, and development experts, all contending with the thorny issues of the moral ramifications of technological and commercial development.
It will also provide a host of full-time and short courses linked to an MSc qualification for students in Bioethics, Human Rights and Development Ethics. A full MSc course in Global Ethics will be available to students from this autumn.

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