Economic Development and Development Economics (Presidential Address)

1993 ◽  
Vol 32 (4I) ◽  
pp. 357-386
Author(s):  
Syed Nawab Haider Naqvi
Keyword(s):  
Economic Development ◽  
Development Economics ◽  
Capital Accumulation ◽  
Development Process ◽  
Critical Level ◽  
Presidential Address ◽  
Per Capita ◽  
Political Freedoms ◽  
Ethical Vision

To state that development economics is about economic development is now considered beyond debate. But opinions differ about what constitutes economic development and its proper index; in particular whether the growth of per capita income adequately captures its flavour. Thus, instead of being regarded, a La Lewis, as just a synonym for capital accumulation going above a certain critical level, development economics is now also required to respond to such challenges as raising the quality of life that people succeed in achieving by living longer; by being more literate in addition to being more prosperous; and, environmentally speaking, by making the development process sustainable. Indeed, our discipline is being asked to encompass an ever wider set of problems and venture into domains where it has not entered before: namely, the choices that people make; the economic and political freedoms they enjoy; the heavy incidence of poverty among the least privileged in the society, including the rural poor; the unjust social and economic structures that must be changed; the regulatory framework that needs to be evolved to enable the market to work-hopefully in the interest of the society. What complicates matters even more is that to be able to address many of these issues, development economics must transcend the self-imposed boundaries of strict positivism and acquire an overarching ethical vision. If mainstream economics is (rightly) regarded as a difficult science, development economics is even more so.

scholarly journals Financing Economic Development (Presidential Address)

2000 ◽  
Vol 39 (4) ◽  
pp. 293-311 ◽  
Author(s):  
A.R. Kemal
Keyword(s):  
Economic Development ◽  
Development Process ◽  
Presidential Address ◽  
Productive Capacity ◽  
Bond Markets ◽  
The Social ◽  
Macroeconomic Fundamentals ◽  
Fiscal Prudence ◽  
Social Sectors

We understand that both the level as well as the composition of investment play a crucial role in the economic development process. However, it needs to be understood that investment contributes to the growth process by increasing the productive capacity, improving the technology, and enhancing the competitiveness of an economy. And when it is supplemented with investment in the social sectors, it also results in human development. The demand for investment depends on strong macroeconomic fundamentals comprising stability of exchange rates, fiscal prudence, feasible structure of financial market, including the regulatory and supervisory framework and the size and quality of the securities and bond markets, and continuity of a consistent investment policy.

scholarly journals Foreign Economic Development: The Need and How Well It Is Being Met

1970 ◽  
Vol 2 (1) ◽  
pp. 53-59
Author(s):  
Ralph K. Davidson
Keyword(s):  
Quality Of Life ◽  
Economic Development ◽  
Gross National Product ◽  
Well Being ◽  
Developed Countries ◽  
Land Area ◽  
The People ◽  
Per Capita ◽  
Ultimate Objective

Today, the need for economic development is self-evident to the millions of people in Asia, Africa and Latin America who suffer from malnutrition, are ill-housed, poorly educated, and either unemployed or grossly underemployed. The ultimate objective of economic development is to raise the standard of life – the quality of life - for the mass of the people, to widen their area of choice, to open up new opportunities for human well-being. The less developed countries have two-thirds of the 3.5 billion people but receive only 12.5 percent of the world's gross national product. Life appears to be an economic treadmill with the future blighted by an excessive rate of population growth for millions of people. India provides a good illustration of the problem. With an estimated population of 525 million at mid-1968, India had 15 percent of the world's population, 2.4 percent of the world's land area, hardly 2 percent of the world's income, and an annual per capita income level of around $75.

scholarly journals TRENDS OF HUMAN CAPITAL ACCUMULATION IN UKRAINE DURING THE PERIOD OF INDEPENDENCE

2020 ◽  
pp. 85-97
Author(s):  
Oksana Zakharova
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Capital Accumulation ◽  
Population Decline ◽  
Business Environment ◽  
Fertility Rate ◽  
Human Capital Accumulation ◽  
Life Expectancy At Birth ◽  
Socio Economic Development

The article is devoted to the characteristics of trends in the accumulation of human capital in Ukraine over the period of independence. The purpose of the article is to study the key factors that caused the existing trends in the accumulation of human capital during the period of independence of Ukraine. The novelty of the study lies in the application of a systematic approach to establishing the influence of the main factors on the accumulation of human capital in the country over the past twenty years.The expediency of the study of factors that directly affect the course of the processes of accumulating human capital at regional and national levels has been substantiated. The relationship between the quality of life of the population, the socio-economic development of the country and the volume of human capital has been established.The conditions (the number and structure of the current population; the number of live births and deaths per year and per 1000 people of the population; natural population decline, the number of marriages registered per year; total annual fertility rate, average life expectancy at birth), typical for Ukraine at the time of its independence in 1991, in the dynamics of demographic and socio-economic processes in Ukraine during the period of its independence have been analyzed.The tendencies that have been achieved by Ukraine in the nineteen years of independence in the field of socio-economic development, such as: the annual decline in the population and the total fertility rate; an increase in the mortality rate of the population; drop in GDP per capita and human development index are established. The key aspects of stabilizing the situation in the field of human capital accumulation in Ukraine, which should be based on the intensive development of the business environment, improving the quality of education, and comprehensive social protection of the population, have been substantiated.

scholarly journals Towards a Comprehensive Framework of the Relationships between Resource Footprints, Quality of Life, and Economic Development

2020 ◽  
Vol 12 (11) ◽  
pp. 4734 ◽  
Author(s):  
Stefan Cibulka ◽  
Stefan Giljum
Keyword(s):  
Quality Of Life ◽  
Sustainable Development ◽  
Economic Development ◽  
Social Boundaries ◽  
Gdp Per Capita ◽  
Environmental Implications ◽  
Per Capita ◽  
Comprehensive Framework ◽  
The Relationship

The relationship between economic affluence, quality of life, and environmental implications of production and consumption activities is a recurring issue in sustainability discussions. A number of studies examined selected relationships, but the general implications for future development options to achieve environmentally and socially sustainable development of countries at different levels of per capita resource footprints, quality of life, and income have not yet been investigated in detail. In this study, we use a global dataset with 173 countries to assess the overall relationship between resource footprints, quality of life, and economic development over the period of 1990–2015. We select the material footprint and carbon footprint and contrast them with the Human Development Index, the Happiness Index, and GDP per capita. Regression analyses show that the relationship between various resource footprints and quality of life generally follows a logarithmic path of development, while resource footprints and GDP per capita are linearly connected. From the empirical results, we derive a generalized path of development and cluster countries along this path. Within this comprehensive framework, we discuss options to change the path to respect planetary and social boundaries through a combination of resource efficiency increases, substitution of industries and sufficiency of consumption. We conclude that decoupling and green growth will not realize sustainable development if planetary boundaries have already been transgressed.

NATURAL RESOURCES AND QUALITY OF LIFE: INTERNATIONAL EVIDENCE

2020 ◽  
pp. 1-14
Author(s):  
ANTON VASKOVSKYI
Keyword(s):  
Quality Of Life ◽  
Economic Development ◽  
Natural Resources ◽  
Natural Resource ◽  
Capital Accumulation ◽  
Resource Dependence ◽  
Social Progress ◽  
Resource Rents ◽  
Natural Resource Dependence

There has been a growing scholarly interest in the links between natural resources and socio-economic development. While numerous studies offer robust evidence on the detrimental effects of natural resource dependence on economic outcomes, no study has robustly investigated the link between natural resource dependence and quality of life across countries. The aim of this study is to address this gap in the literature by investigating the relationship between natural resource dependency and social progress. Using the cross-country data from 143 countries for the period of 2012 to 2019, we find that resource rents are significantly and negatively linked to the Social Progress Index. Moreover, this effect remains robust even after controlling the potential transmission channels such as governance, economic development and human capital accumulation.

Mortality Reductions, Educational Attainment, and Fertility Choice

2005 ◽  
Vol 95 (3) ◽  
pp. 580-601 ◽  
Author(s):  
Rodrigo R Soares
Keyword(s):  
Human Capital ◽  
Economic Development ◽  
Life Expectancy ◽  
Demographic Transition ◽  
Capital Accumulation ◽  
Critical Level ◽  
Human Capital Accumulation ◽  
Fertility Choice ◽  
Life Expectancy At Birth ◽  
Long Run

This paper develops a model where reductions in mortality are the main force behind economic development. The model generates a pattern of changes similar to the demographic transition, where gains in life expectancy at birth are followed by reductions in fertility and increases in the rate of human capital accumulation. The onset of the transition is characterized by a critical level of life expectancy at birth, which marks the movement of the economy from a Malthusian equilibrium to an equilibrium with investments in human capital and the possibility of long-run growth.

Why Institutions Matter: From Economic Development to Development Economics

2014 ◽  
Vol 22 (3) ◽  
pp. 469-490 ◽  
Author(s):  
Cosmin Marinescu
Keyword(s):  
Economic Growth ◽  
Economic Theory ◽  
Economic Development ◽  
Development Economics ◽  
Capital Accumulation ◽  
Value Systems ◽  
Neoclassical Theory ◽  
Useful Knowledge ◽  
Essential Step ◽  
Production Growth

The last few decades have seen a significant growth of economists’ interest in studying institutions. They are generally preoccupied with explaining institutions using instruments that are specific for an economist, and especially with discerning the significance of institutions for both economic development and development economics. Therefore, the integration of institutions into economic theory is an essential step in our continuous attempt to refine and improve scientific explanations. The neoclassical theory of economic growth only identifies the conditions needed for material production growth, such as capital accumulation and technical progress. In order to explain ‘why’ people save, invest, learn and seek useful knowledge, special attention must also be paid to institutional and value systems.

scholarly journals Strategies of Socio-Economic Development of the Regions of Southern Russia: Ecological Factor, Hydrocarbon Footprint and Quality of Life

2020 ◽  
pp. 62-74
Author(s):  
Inna Mitrofanova ◽  
Tatiana Ivanova ◽  
Svetlana Pyankova
Keyword(s):  
Quality Of Life ◽  
Economic Development ◽  
Capital Accumulation ◽  
Socioeconomic Development ◽  
Industrial Sector ◽  
Green Economy ◽  
The South ◽  
Green Technologies ◽  
Socio Economic Development

One of the main characteristics provided in the framework of strategic planning of the socioeconomic development of regions is the quality of life. The growth of profits and the increase in consumption increases the burden on the environment. The purpose of this article is to analyze the ecological, hydrocarbon potential, the quality of life of the population in the subjects of the South of Russia, to assess the prospects of their changes in the strategies of socio-economic development. The authors use statistical, tabular, qualitative factor analysis, ranking. The materials of the article are a database of regions of the South of Russia in terms of the environmental, hydrocarbon footprint, quality of life, generalizing economic indicators. The paper accumulates information on Krasnodar krai, Rostov, Astrakhan, Volgograd regions, the Republics of Adygea and Kalmykia. The ecological and hydrocarbon footprint varies by region in different ways. The authors have made a rating of the best regions. The factors of the obtained changes are determined. It is found that the quality of life is determined by the volume of GRP, GRP per capita, gross fixed capital accumulation, the actual final consumption of households. Qualitative analysis shows how these factors affect the ecological and hydrocarbon footprint. It is necessary to break the link between the growth of production and the deterioration of the environmental situation. This is possible due to the development of “green” technologies. The analysis of strategies of the social and economic development of the regions of the South of Russia shows that at large volumes of GRP and the developed industrial sector, subjects of the Russian Federation form “green economy” in different branches, at low level of development – only in the sphere of renewable energy. The authors conclude that the developed strategies of socio-economic development of territories do not fully contribute to overcoming ecological and economic contradictions. The authors have formulated proposals to reduce them.

scholarly journals THE IMPACT OF THE INSTITUTIONAL ENVIRONMENT ON THE ECONOMIC DEVELOPMENT

Ekonomika ◽  
2009 ◽  
Vol 87 ◽  
pp. 141-153 ◽  
Author(s):  
Vidmantas Jankauskas ◽  
Janina Šeputienė
Keyword(s):  
Economic Development ◽  
Institutional Environment ◽  
Gdp Per Capita ◽  
Development Institutions ◽  
Per Capita ◽  
Relationship Of ◽  
Openness To Trade ◽  
The Impact ◽  
The Relationship

Economic literature recognizes three “deep determinants” of economic development: institutions, geography and openness to trade. Discussion in the literature focuses on what part of the income per capita variation can be explained by institutions, geography and openness to trade. The empirical results can’t offer a clear answer, but there is a broader agreement in the literature that institutions play a more important role than geography and openness to trade. What is unclear whether the institutions also can explain variation in per capita income across countries, in which institutional environment is to some degree similar..This article aims to explore and quantify the relationship of the income level with institutional environment, geography and openness to trade across countries, grouped according their institutional environment quality.The results reveal that extent to which the variation in GDP per capita can be associated with the quality of institutional environment differs a lot between good and bad institutional environment samples. The results in good institutional environment sample come in line with series of studies in which the strong and positive link between various measures of institutions and economic development was established and support primacy of institutions over openness to trade and geography. I In bad institutional environment sample, on the contrary,no evidence was found that institutions mean a lot in respect of differences in GDP per capita. These results should not be interpreted so as to mean that institutional environment is not important, rather the degree of “badness” makes no difference.

Inaugural Address

1988 ◽  
Vol 27 (4I) ◽  
pp. 347-353
Author(s):  
Ghulam Ishaq Khan
Keyword(s):  
Economic Development ◽  
Knowledge Creation ◽  
Development Process ◽  
Presidential Address ◽  
General Meeting ◽  
Policy Formulation ◽  
Inaugural Address ◽  
Annual General Meeting ◽  
The Past

Syed Nawab Haider Naqvi, Dr Ghaffar Chaudhry, Distinguished Guests, Ladies and Gentlemen: It is my privilege to inaugurate the Fifth Annual General Meeting of the Pakistan Society of Development Economists. During the past six years of its existence the Society, which I founded in 1982, has become an institution devoted to the pursuit of scientific virtuosity and academic rectitude. It has provided a powerful medium through which a serious discussion of economic and demographic issues related to Pakistan's economy has become possible. I am happy to know that by this time over one hundred papers, written by scholars from all over the world, have been presented in this forum. In addition, the Inaugural Address, the Presidential Address, the Quaid-i-Azam Lectures, and the Guest Lectures, presented in this forum each year, provide a synoptic review of the fields of development economics and demography, and of issues relating to the economics of education, health and the role of women in the development process. This massive intellectual output should strengthen the process of knowledge creation by matching the theories of economic development with the 'reality' in the developing countries. The resulting literature, with a focus on Pakistan, also provides rich source material and guidelines for policy formulation in the field of socio-economic development. I must add, however, that while due to the contributions of the Society we know much more about the nature of the development problem, our knowledge of how to solve it has probably not expanded as much.

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