Business International business Economic development
Question:
What is the difference between outward-looking and inward-directed economic development?
Economic Development
The term economic development is used to describe the overall socio-economic development of the country. It is different from economic growth as the GDP of the country does not measure it.
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There are two strategies used by the countries while planning economic development. These strategies are inward-looking and outward-looking economic...
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Economic Growth vs. Development | Overview, Theories & Examples
from
Chapter 19/ Lesson 4
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Learn the definition of economic growth and understand its causes. Compare economic growth vs. economic development and study an economic growth example.
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