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The Relationship between Economic Growth and Economic Development A Regional Assessment in South Africa

Author

Listed:
  • Daniel MEYER

    (Spiru Haret UniversityFaculty of Economic Sciences and IT North West University South Africa)

  • T MASEHLA

    (North West University Faculty of Economic Sciences and IT South Africa)

  • Sebastian KOT

    (Czestochowa University of Technology Poland Faculty of Economic Sciences and IT North West University South Africa)

Abstract

The concepts of economic development and economic growth differ significantly but are in some instances used as interchangeable notions It is important for policy formulators and decision makers to understand the relationship between the two Development strategies should be formulated to achieve sustainable inclusive economic growth and economic development These two economic concepts influence each other however there is limited clarity on the relationship The aim of the study was to determine the relationship between these in the Vaal Triangle region South Africa Economic development is a broad concept and various methods can be used to measure it For the purpose of this research an economic development index was developed which consists of employment poverty levels and human development index HDI This index assists in the measurement of the relationship between economic development and economic growth A time series econometric model was used to measure the relationship between the two variables The results indicated that economic development causes economic growth in the long and short run Therefore it is important to focus on economic development through improved HDI increased employment and poverty alleviation in order to achieve inclusive economic growth

Suggested Citation

  • Daniel MEYER & T MASEHLA & Sebastian KOT, 2017. "The Relationship between Economic Growth and Economic Development A Regional Assessment in South Africa," Journal of Advanced Research in Law and Economics, ASERS Publishing, vol. 8(4(26)), pages 1377-1385.
    • Handle: RePEc:srs:jarle0:v:8:y:2017:i:4(26):p:1377-1385
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    Cited by:

    1. Natanya Meyer & Christelle Auriacombe, 2019. "Good Urban Governance and City Resilience: An Afrocentric Approach to Sustainable Development," Sustainability, MDPI, vol. 11(19), pages 1-18, October.
    2. Pavitra Dhamija, 2020. "Economic Development and South Africa: 25 Years Analysis (1994 to 2019)," South African Journal of Economics, Economic Society of South Africa, vol. 88(3), pages 298-322, September.
    3. Mohamed Abouelhassan Ali & Moaaz Kabil & Rahaf Alayan & Róbert Magda & Lóránt Dénes Dávid, 2021. "Entrepreneurship Ecosystem Performance in Egypt: An Empirical Study Based on the Global Entrepreneurship Index (GEI)," Sustainability, MDPI, vol. 13(13), pages 1-22, June.
    4. Armenia ANDRONICEANU, 2020. "Major Structural Changes In The Eu Policies Due To The Problems And Risks Caused By Covid-19," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2020(34), pages 137-149, June.
    5. Ane-Mari Androniceanu & Raluca Dana Căplescu & Manuela Tvaronavičienė & Cosmin Dobrin, 2021. "The Interdependencies between Economic Growth, Energy Consumption and Pollution in Europe," Energies, MDPI, vol. 14(9), pages 1-23, April.
    6. Luma Al-Qudah & Barbara Piontek & Judit Olah, 2021. "Economic Growth and Foreign Direct Investment in the Context of Financial Development: Evidence from Jordan," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 762-782.
    7. Sara Mota Cardoso & Aurora A. C. Teixeira, 2020. "The Focus on Poverty in the Most Influential Journals in Economics: A Bibliometric Analysis of the “Blue Ribbon” Journals," Poverty & Public Policy, John Wiley & Sons, vol. 12(1), pages 10-42, March.
    8. Na Wang & Atta Ullah & Xiaofeng Lin & Taiming Zhang & Jie Mao, 2022. "Dynamic Influence of Urbanization on Inclusive Green Growth in Belt and Road Countries: The Moderating Role of Governance," Sustainability, MDPI, vol. 14(18), pages 1-18, September.
    9. Sunil Tiwari & Natalia Tomczewska-Popowycz & Shiv Kumar Gupta & Magdalena Petronella Swart, 2021. "Local Community Satisfaction toward Tourism Development in Pushkar Region of Rajasthan, India," Sustainability, MDPI, vol. 13(23), pages 1-20, December.
    10. Natanya MEYER & Daniel Francois MEYER, 2019. "A Comparative Analysis Of Developmental Progression: The Case Of Poland And South Africa," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2019(33), pages 147-164, December.
    11. Ullah, Atta & Pinglu, Chen & Ullah, Saif & Qaisar, Zahid Hussain & Qian, Ningyu, 2022. "The dynamic nexus of E-Government, and sustainable development: Moderating role of multi-dimensional regional integration index in Belt and Road partner countries," Technology in Society, Elsevier, vol. 68(C).
    12. Georgescu Irina & Androniceanu Ane-Mari & Kinnunen Jani & Drăgulănescu Irina Virginia, 2021. "Correlative approach to digitalization and economic growth," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 15(1), pages 44-57, December.

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