Economic development

From Economypedia.com

Economic development refers to a nation's or nations' economic advancement. Most governments actively seek further economic development to improve the economic strength of both the nation and its population.

A nation can increase its economic development a variety of ways. Some are through trade policy, local incentives, and more.

In third world and developing nations, the creation of a solid infrastructure is more critical than the development of new technology as the technology can be imported. This is in contrast to developed countries where the introduction of new technology results in an increase in the standard of living.^[1]

Contents 1 Trade policy 2 Economic Development Organizations 2.1 National 2.2 Regional 3 See also 4 References

[edit] Trade policy

There are a variety of policy measures that can increase economic development of a country. Some could be considered protectionist.

• Subsidies
• Taxes
• Tariffs
• Price floors
• Price ceilings

[edit] Economic Development Organizations

[edit] National

• Economic Development Board of Singapore
• Baharain Economic Development Board
• Brunei Economic Development Board

[edit] Regional

• Sonoma County Economic Development Board (California, USA)
• Columbus, Indiana Economic Development Board (USA)
• North Carolina Economic Development Board (USA)
• Johnson City, Jonesborough, and Washington County Economic Development Board (Tennessee, USA)

[edit] See also

• Economic growth
• GDP
• GNP
• National income
• Globalization
• Globalization polarization

[edit] References

1. ↑ Rudiger Dornbusch, Stanley Fischer, Richard Startz, Macroeconomics, Tenth Edition (McGraw-Hill Education (Asia), International Edition, 2008), p. 5.