IDEAS home Printed from https://ideas.repec.org/a/ora/journl/v33y2024i1p84-92.html
   My bibliography  Save this article

New Perspectives On Economic Development

Author

Listed:
  • Tünde-Ilona KELE

    (Doctoral School of Economic Sciences, Faculty of Economic Sciences, University of Oradea, Oradea, Romania)

  • Florica ȘTEFĂNESCU

    (Doctoral School of Economic Sciences, Faculty of Economic Sciences, University of Oradea, Oradea, Romania)

Abstract

In the first decades of the 21st century, in a period characterized by turbulent, liberalized economic environment, in a world marked by a strong demographic growth, depletion of natural resources, climate change and destruction of ecosystems, we are more concerned than ever about the issues related to economic growth and development. In the first part of the paper, we presented the result of an overview study, based on which we synthesized the dynamics of the determinants of economic growth, after which we carried out a comparative study of economic growth and development. The second part of this paper presents a review of those economic indicators that are considered to be the most relevant in measuring economic development. The conclusions of the paper converge on the idea that, despite controversies regarding the importance of GDP as an indicator of economic development, it continues to remain the most present and important reference indicator in economic statistics. However, in order to obtain an accurate and more complex image of the economic and social performance, it is recommended to use several indicators in combination with GDP.

Suggested Citation

  • Tünde-Ilona KELE & Florica ȘTEFĂNESCU, 2024. "New Perspectives On Economic Development," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 33(1), pages 84-92, July.
    • Handle: RePEc:ora:journl:v:33:y:2024:i:1:p:84-92
    as

    Download full text from publisher

    File URL: https://anale.steconomiceuoradea.ro/en/wp-content/uploads/2024/11/AUOES.July_.2024.10.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. António Afonso & Juan Alegre, 2011. "Economic growth and budgetary components: a panel assessment for the EU," Empirical Economics, Springer, vol. 41(3), pages 703-723, December.
    2. Philippe Aghion, 2004. "Growth and Development: A Schumpeterian Approach," Annals of Economics and Finance, Society for AEF, vol. 5(1), pages 1-25, May.
    3. Daly, Herman E., 1987. "The economic growth debate: What some economists have learned but many have not," Journal of Environmental Economics and Management, Elsevier, vol. 14(4), pages 323-336, December.
    4. Schumpeter, Joseph A., 1947. "Theoretical Problems of Economic Growth," The Journal of Economic History, Cambridge University Press, vol. 7(S1), pages 1-9, January.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Francesc Bellaubi & Josep Maria Mallarach & Rafael Sardá, 2021. "A Geoethical Approach to Unlock a Social-Ecological Governance Problem: The Case of the Tordera River (Catalonia, Spain)," Sustainability, MDPI, vol. 13(8), pages 1-14, April.
    2. Antonio Afonso & Hüseyin Sen & Ayse Kaya, 2021. "Government Size, Unemployment and Inflation Nexus in Eight Large Emerging Market Economies," Hacienda Pública Española / Review of Public Economics, IEF, vol. 235(1), pages 133-170, March.
    3. Jens J. Krüger, 2020. "Long‐run productivity trends: A global update with a global index," Review of Development Economics, Wiley Blackwell, vol. 24(4), pages 1393-1412, November.
    4. Marco Keiner, 2005. "Re-emphasizing sustainable development — The concept of ‘Evolutionability’," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 6(4), pages 379-392, January.
    5. Alessandra Cepparulo & Gilles Mourre, 2020. "How and How Much? The Growth-Friendliness of Public Spending through the Lens," European Economy - Discussion Papers 132, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    6. Chiara DEL BO, 2009. "Recent advances in public investment, fiscal policy and growth," Departmental Working Papers 2009-25, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
    7. Dennis Fok & André Stel & Andrew Burke & Roy Thurik, 2019. "How entry crowds and grows markets: the gradual disaster management view of market dynamics in the retail industry," Annals of Operations Research, Springer, vol. 283(1), pages 1111-1138, December.
    8. Dicke, Hugo & Glismann, Hans H., 1996. "Schnittstellen zwischen Staat und Wirtschaft im System der beruflichen Bildung in Deutschland," Kiel Working Papers 748, Kiel Institute for the World Economy (IfW Kiel).
    9. Afonso, Oscar, 2012. "The impact of public goods and services and public R&D on the non-observed economy size, wages inequality and growth," Economic Modelling, Elsevier, vol. 29(5), pages 1996-2004.
    10. Peterson K. Ozili & Adekemi Ademiju & Semia Rachid, 2022. "Impact of financial inclusion on economic growth: review of existing literature and directions for future research," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 50(8), pages 1105-1122, October.
    11. Alfredo Monte & Sara Moccia & Luca Pennacchio, 2022. "Regional entrepreneurship and innovation: historical roots and the impact on the growth of regions," Small Business Economics, Springer, vol. 58(1), pages 451-473, January.
    12. Adelaide Duarte & Marta Simões & João Sousa Andrade, 2014. "Estado Social, Quantis, Não-Linearidades e Desempenho Económico: Uma Avaliação Empírica," GEMF Working Papers 2014-21, GEMF, Faculty of Economics, University of Coimbra.
    13. Paul Johnson & Chris Papageorgiou, 2020. "What Remains of Cross-Country Convergence?," Journal of Economic Literature, American Economic Association, vol. 58(1), pages 129-175, March.
    14. Kunting Chen, 2012. "Analysis of the Great Divergence under a Unified Endogenous Growth Model," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 317-353, November.
    15. Gerrit van der Waldt & David Fourie, 2022. "Ease of Doing Business in Local Government: Push and Pull Factors for Business Investment in Selected South African Municipalities," World, MDPI, vol. 3(3), pages 1-17, July.
    16. Amir, Shmuel, 1995. "Welfare maximization in economic theory: Another viewpoint," Structural Change and Economic Dynamics, Elsevier, vol. 6(3), pages 359-376, August.
    17. Sena, Augusto Marcos Carvalho de, 2006. "A Theoretical Framework on Sustainability based on the Maintenance of Natural Capital Stocks," 44th Congress, July 23-27, 2006, Fortaleza, Ceará, Brazil 149149, Sociedade Brasileira de Economia, Administracao e Sociologia Rural (SOBER).
    18. Projektgruppe Gemeinschaftsdiagnose, 2011. "Gemeinschaftsdiagnose Frühjahr 2011: Aufschwung setzt sich fort - Europäische Schuldenkrise noch ungelöst," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 64(08), pages 03-63, April.
    19. Nazila Alinaghi & W. Robert Reed, 2021. "Taxes and Economic Growth in OECD Countries: A Meta-analysis," Public Finance Review, , vol. 49(1), pages 3-40, January.
    20. Afonso, Oscar, 2013. "Diffusion and directed technological knowledge, human capital and wages," Economic Modelling, Elsevier, vol. 31(C), pages 370-382.

    More about this item

    Keywords

    development; development indicators; economic growth determinants;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - 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:ora:journl:v:33:y:2024:i:1:p:84-92. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Catalin ZMOLE The email address of this maintainer does not seem to be valid anymore. Please ask Catalin ZMOLE to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/feoraro.html .

    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.