IDEAS home Printed from https://ideas.repec.org/a/mth/jsss88/v11y2024i1p84.html
   My bibliography  Save this article

Does Economic Growth and Development Differ? Exploring the Theoretical Divide Between Economic Growth and Development

Author

Listed:
  • James E. Conable
  • Imaobong Olsson

Abstract

This paper delves into the nuanced distinction between economic growth and economic development, unravelling their theoretical underpinnings and divergent implications. Employing a comprehensive review of relevant literature, the study navigates through traditional definitions and contemporary perspectives to establish a theoretical framework that differentiates these two concepts. Drawing from prominent theorists like Hirschman, Wallerstein, and Tvaronaviciené, the analysis scrutinizes indicators such as Gross Domestic Product (GDP), Gross National Product (GNP), and Human Development Index (HDI). The theoretical exposition dissects the historical context, exploring how economic growth often masks disparities and inefficiencies inherent in economic development. Furthermore, the paper investigates the impact of globalization, neo-liberal policies, and participatory approaches on shaping these paradigms. In conclusion, the study advocates for a nuanced understanding of economic progress, emphasizing the need for an inclusive, adaptive, and context-specific approach to foster genuine economic development.

Suggested Citation

  • James E. Conable & Imaobong Olsson, 2024. "Does Economic Growth and Development Differ? Exploring the Theoretical Divide Between Economic Growth and Development," Journal of Social Science Studies, Macrothink Institute, vol. 11(1), pages 1-84, June.
  • Handle: RePEc:mth:jsss88:v:11:y:2024:i:1:p:84
    as

    Download full text from publisher

    File URL: https://www.macrothink.org/journal/index.php/jsss/article/download/21863/16857
    Download Restriction: no

    File URL: https://www.macrothink.org/journal/index.php/jsss/article/view/21863
    Download Restriction: no
    ---><---

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mth:jsss88:v:11:y:2024:i:1:p:84. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Technical Support Office (email available below). General contact details of provider: http://www.macrothink.org/journal/index.php/jsss .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.