This is the first 1,000 characters of 1717 words (6.87 pages) in the essay titled Economic
Globalisation - Economic Growth and Development and development indicators.
Essay written by: Phillip Miles
“Outline the differences between economic growth and economic development. Discuss how economic development may be measured. Outline how globalisation may impact upon a nation’s development. Where appropriate make reference to a relevant case study.”
Although economic growth and development are similar in meaning, they have some essential differences. Economic growth refers to the increasing ability of a nation to produce more goods and services. Economic development basically implies that individuals of that nation will be better off and takes into account changes in economic and social structures that will reduce or eliminate poverty. Economic development can be measured in a number of different ways including the Human Development Index, a Gender Empowerment Measure, a Human Poverty Index and a Human Freedom Index. All of these measures were developed b...
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