Economic Growth

Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. Growth is usually calculated in real terms, i.e. inflation-adjusted terms, in order to obviate the distorting effect of inflation on the price of the goods produced. In economics, "economic growth" or "economic growth theory" typically refers to growth of potential output, i.e., production at "full employment", which is caused by growth in aggregate demand or observed output.

As an area of study, economic growth is generally distinguished from development economics. The former is primarily the study of how countries can advance their economies. The latter is the study of the economic aspects of the development process in low-income countries.

As economic growth is measured as the annual percent change of gross domestic product (GDP), it has all the advantages and drawbacks of that measure.

Read more about Economic Growth:  Institutions and Growth, Human Capital and Growth, Inequality and Economic Growth, Quality of Life, Negative Effects of Economic Growth, Prominent Growth Economists

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Trevor Swan
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Late-2000s Recession In Asia - South Asia - India
... India's economy benefited from recent high economic growth which declined greatly due to the global economic crisis ... Economic growth in India during FY2008-09 stood at 6.7% ... account for only 15% of India's GDP, less than half the levels of major Asian economic powers such as China and Japan ...
Recent Work That Tests The Skyscraper Index Hypothesis
... aims to see if there is, in fact, a correlation between skyscraper height and economic growth ... cycle, as measured by the National Bureau of Economic Research ... Second, the authors investigate height and economic growth using the times series techniques of vector autoregression and cointegration tests ...

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