Economic growth and economic development: concepts and measures

Abstract

As Arndt demonstrates, the term economic development, as a subject of scholarly work has rather recent origins, the term is closely affiliated with planned investments and intentional development efforts. Arndt reviews the diversity of opinion about the process of economic development in relation to desired outcomes. Given the inconsistencies among theories used to explain economic development, the recent work by Amos and Flammang is important. The authors synthesize alternative theories in order to pose new meta-theory or conceptual frameworks and, in so doing, advance our understanding of economic development. This author draws on their concepts and frameworks to define economic growth and economic development more clearly and to suggest face-valid measures of these concepts. -from Author