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Mutual influence of economic growth and economic development and its impact on social transformations

Author

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  • Oleksandr KOSTYUCHYK

    (Kyiv National Economic University, Ukraine)

Abstract

The purpose of the article is to study the mutual influence of economic growth and economic development as well as its importance for transformational changes in both economic and social systems. Author identifies the essential common and distinctive features of economic growth and economic development and describes the dialectical mechanism of mutual influence of these processes, which is represented as the key to transition of economic and social system towards condition of a new quality that allows to satisfy increased society’s needs.

Suggested Citation

  • Oleksandr KOSTYUCHYK, 2014. "Mutual influence of economic growth and economic development and its impact on social transformations," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(7(596)), pages 129-143, July.
    • Handle: RePEc:agr:journl:v:xxi:y:2014:i:7(596):p:129-143
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