Factors that Improve Growth & Development
- Data shows that economic growth has a very positive impact on economic development
- In most cases growth precedes development, but this is not always true, e.g. Bangladesh used a range of strategies (including micro-finance) to transform the quality of life for many households
- In some cases (usually in developing countries), economic growth is tied to one industry and generates so many negative externalities of production that the standard of living decreases for many even as growth increases
Economic Factors that Affect Growth & Development
Factor
|
Explanation
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Investment |
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Education and training |
|
Healthcare |
|