A critical approach to economic development

Concept, measurement and patterns

  • Emeka Nkoro University of Port Harcourt
  • Aham kelvin Uko
Keywords: Economic Development, Concept, Measurement, Patterns

Abstract

This paper x-rayed the concept, measurement and, patterns of economic development. In doing this, the paper reviewed a vast literature on concepts, measurement of economic development and, economic development patterns and their effects on growth indicators as well as on the quality of life components. This literature was sourced from known academic databases. From the overview of the concept, measurement of economic development and, economic development patterns and their relationship between growth indicators as well as the quality of life components the following were found; as new challenges emerge, the horizon of the concept of economic development expands to accommodate the prevailing challenges. Economic development has no conventional measure/indicator that completely captures it process and, there are various economic development patterns use in tackling the problem of economic growth and quality of life, some of which are; knowledge-based, trade-based, saving-based and ethnic-religious-based pattern. Future studies may use these concepts/measurements of economic development and patterns of economic development and, validate their significance using statistical methods.

References

Drewnowski, J. (1980). Social Indicators, Quality of Life and Economic Theory: A Suggestion for Establishing a Theoretical Basis for social Indicators and Quality of life research. Philosophica, Vol.(25), Issue 1.

Drewnowski, J. (1983). Social and Economic Factors in Development: Introductory Considerations on their Meaning, Measurement and Interdependence, UNRISD Report No.3.

Goulet, D.(1971): The cruel choice: A New Concept in the Theory and Development. New York: Atheneum Press, Pp 362.

Herrick, B.H. and C.P.Kindleberger (1958). Economic Development. New York: McGraw-Hill (McGraw-Hill Bank Company).

Herrick, B.H. and C.P.Kindleberger (1983). Economic Development(4th ed). New York: McGraw-Hill (McGraw-Hill Bank Company).

Hick, N. and P. Streeten (1979). Indicators of Development: The Search for Basic Needs Yardstick. World Development, Vol.7(6).

Human Development Report 2011 - Sustainability and Equity: A Better Future for All

Iyoha, M.A, S.A. Oyefusi and D.E. Oriakhi (1998). Introduction to Modern Economics. Mareh Publishers, Benin City.

Jhingan, M.L. (1997). The Economic of Development and planning (33rd ed). Vrinda Publication Ltd, Delhi.

Kim, H.S. (2014). Patterns of Economic Development in the World. Journal of Global Economics, Vol. 2, Issue 2.

McGranhan, D.(1972). Development Indicators and Development models. The Journal of Development Studies, Vol. 8, Issue 3: 91-102.

Meier, G.M.(1964). Leading Issues in Development Economics(4th ed). New York: Oxford Unversity Press.

Okowa, W.J.(1996). How the Tropics Underdeveloped the Negro: A Questioning Theory of Development. Paragraphics, Port Harcourt.

Seers, D.(1969). The Meaning of Development. Institute of Development Studies. Communication Series No.44.

Seers, D.(1972). What are We Trying to Measure? Journal of Development Studies. Vol. 8, Issue 3: 21-36.

Sen, A.K. (1999). Development as Freedom. Alfred A. knopf, New York.

Singer, H.W. and J.A. Ansari(1977). Rich and Poor Countries. John Hopkins University Press, Baltimore: Pp 228.

Todaro, M.P. and S.C.(2006). Economic Development (9th ed). New York: Addison Wesley.

Todaro, M.P.(1985). Economic Development in the Third World (3rd ed). Longman Group Ltd, England.

United Nations Development Programme-1990-2004. Human Development Report, New York: Oxford University press.

Published
2019-08-26
How to Cite
Nkoro, E., & Uko, A. (2019). A critical approach to economic development. International Journal of Research in Business and Social Science (2147- 4478), 8(5), 228-236. https://doi.org/10.20525/ijrbs.v8i5.311
Section
Articles