how does economic growth relate to economic development
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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.
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Economic growth brings quantitative changes in the economy. Economic growth reflects the growth of national or per capita income. Economic development implies changes in income, savings and investment along with progressive changes in socio- economic structure of country (institutional and technological changes).
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