Economic Development Research Paper Example | Topics and Well Written Essays - 2500 words

Economic Development - Research Paper ExampleHowever non every policy makers and academicians have the same opinion regarding the ploughshare of the organization in the achievement of frugal schooling. Thus this paper aims in studying the relation between the economic organic evolution and economic perceptual constancy of a rural ara and the contribution of the IMF in achieving so. Meaning of economic development Economic development of a country means the process of increasing the per capita income as tumesce as per capita output of a nation accompanied by the increase in the overall productivity and improvements in the techniques of production that will in the end result in the increase in the well being of the overall alliance. There is considerable variation between economic process and economic development of a nation though sometimes they are used synonymously. Growth of the thriftiness of a country must precede as well as prompt the economic development of a part icular nation. and then it lot be said that economic growth accompanied by the structural transformation of a nation results in the economic development of the overall nation. Thus for the overall economic development of a nation, growth of the countrys rescue is the necessary condition and the structural transformation forms the condition of sufficiency. ... These factors in simple words differentiate growth of an thrift from the overall development of the same. Therefore for a proper definition of economic development it can be said that the structural, institutional and the qualitative changes that are exacted in an society for expanding the capability and the dominance of the same in the proper utilization of the scare economic resources of the country is reflected in the economic development of the country. The structural transformation if an economy imply the overall growth of the Gross Domestic Product of an economy contributed by the productive increase of the primary , the secondary and the tertiary sector of the economy and the relative contribution of each sector in the countrys total GDP. Moreover the degree of openness of an economy and the countrys dependence on foreign trade also encompasses the economic structure of the country. Therefore for development of an economy there is the requirement of a positive change in each of these variables with a long term impact on the economy that is fundamental. These changes in the structure of the economy is in need of changing, more specifically improving the poverty level of the country for the achievement of economic development. In event of economic development the increase in the economic well being of an individual as well as the society as a whole gets reflected in the changes in the living conditions of the society batch with improved nutrition, improved health, improved housing facilities along with betterment in the education structure of the society that will impact on an overall upliftm ent of the society with flavors of metropolis.