What does economic development mean?

Definitions for economic development

Here are all the possible meanings and translations of the word economic development.


  1. Economic development

    Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area. Economic development can also be referred to as the quantitative and qualitative changes in the economy. Such actions can involve multiple areas including development of human capital, critical infrastructure, regional competitiveness, environmental sustainability, social inclusion, health, safety, literacy, and other initiatives. Economic development differs from economic growth. Whereas economic development is a policy intervention endeavor with aims of economic and social well-being of people, economic growth is a phenomenon of market productivity and rise in GDP. Consequently, as economist Amartya Sen points out: “economic growth is one aspect of the process of economic development.”

U.S. National Library of Medicine

  1. Economic Development

    Mobilization of human, financial, capital, physical and or natural resources to generate goods and services.


  1. Chaldean Numerology

    The numerical value of economic development in Chaldean Numerology is: 1

  2. Pythagorean Numerology

    The numerical value of economic development in Pythagorean Numerology is: 1

Sample Sentences & Example Usage

  1. President Tsai Ing-wen:

    This country urgently needs a new model for economic development.

  2. Michael Hecht:

    In terms of economic development, Jindal was an outstanding governor.

  3. Shakib Noori:

    We have not seen a single effort or initiative towards economic development.

  4. Chinese Foreign Minister Wang Yi:

    China will help Nepal in every way it can ... to promote its socio-economic development.

  5. Siti Nurbaya:

    (Economic) development will grow significantly, but also we'll do better at conservation.

Images & Illustrations of economic development

  1. economic developmenteconomic developmenteconomic development


Find a translation for the economic development definition in other languages:

Select another language:

Discuss these economic development definitions with the community:

Word of the Day

Would you like us to send you a FREE new word definition delivered to your inbox daily?

Please enter your email address:     


Use the citation below to add this definition to your bibliography:


"economic development." Definitions.net. STANDS4 LLC, 2018. Web. 22 Mar. 2018. <https://www.definitions.net/definition/economic development>.

Are we missing a good definition for economic development? Don't keep it to yourself...

Nearby & related entries:

Alternative searches for economic development:

Thanks for your vote! We truly appreciate your support.