Economic development is a process of actual welfare growth in a country or region according to the average population. It is not only the increase and expansion of wealth and economic organisms, but also the qualitative change, that is, the innovation of economic structure and social structure, the improvement of social life quality and input-output efficiency. In short, economic development is a process of innovation or change in the economic structure and social structure of a country or region on the basis of economic growth.
Chinese name
economic development
Foreign name
economic development
subject
economics
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Interpretation of the Basic Application of China Related Background Content Measurement
definition
Economic development Economic development is the core concept of development economics relative to economic growth. Economic development refers to high-quality economic development including quality and quantity, not just quantity growth.
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With the socialization of production, the functionalization of knowledge and the economization of society, the economic structure becomes complicated, and economic growth and economic development, economic development and social development gradually converge in connotation and extension. GDP growth can no longer truly reflect economic growth, even economic growth can not be separated from economic development, and economic growth in today's era has only abstract significance; Using GDP to calculate economic growth and measure economic development has fallen behind the requirements of the times. Economic development is the development of value, not the growth of money, but the development of efficiency and all-round development, not one-sided growth, dialectical development and linear growth. The concept of "economic development" distinguishes development economics from growth economics, unifies economic growth and economic development, economic development and social development, positions economics as development economics, and makes development economics a science.