Economic Growth: Qualitative and Quantitative Determinants (Methogological Aspects)

Abstract

Economic development looks at a wider range than Gross Domestic Product (GDP) per capita. Economic development mostly is concerned with how people are actually a����ected. It looks at their actual living standards and social conditions. Measures of Economic development will look at: Real income per head – GDP per capita; Levels of literacy and education standards; Levels of health care (e.g. number of doctors per 1.000 population); Quality and availability of housing; Levels of environmental standards; Levels of infrastructure (transport, communication); Levels of corruption; Educational standards and labor productivity; Labor mobility; Flow of Foreign aid & Foreign investment; Level of savings & investment; etc. Additionally is given o����cial statistics on Georgian Case concerning subject of study. Particularly on the GDP trends (Economic Growth), Employment and Unemployment, Informal Employment, Shadow Economy (or Non-Observed Economy); External Trade and it’s Role for National Currency Stability; Natural Resources (Pollution & etc); Regional Factors for Economic Growth (Advantages in Trade).