Measuring Economic Growth and Development

Abstract

Md Al-Amin, Mujahidul Islam and Md Amir Hossain

Economic development is thus a multivariate concept; hence there is no single satisfactory definition of it. Development is conventionally measured as economic growth with level of development in the process of size of economy. A country's economic health can usually be measured by looking at that country's economic growth and development. Most of the economists clamored for dethronement of GNP and define development in terms of removal of poverty, illiteracy, disease and changes in the composition of input and output, increase in per capita output of material goods.

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