Introduction?The question of growth is nothing new but a new disguise for an age old issue, mavin which has forever and a day intrigued and preoccupied scotchs: the present verses the future? (James Tobin)A positive metamorphose in the level of production of goods and services by a country over a certain period of time. titulary growth is defined as economic growth including inflation, piece real growth is nominal growth minus inflation. frugal growth is usually brought about by technological asylum and positive external forces (http://www.investorwords.com/5540/economic_growth.html)The role of financial sector in economic growth has always been a debatable topic. now world?s view is directed towards the concept of sustainable training and achieving higher living standards. Growth without development is exceedingly criticized as temporary and a misleading indicator of the unquestionable state of the economy. Concepts like population growth which disintegrate economic growth and education and health which improve human with child(p) accumulation ar gaining a lot of importance argon being demonstrated as the key occurrenceors in the development of economy and it?s GDP. Different critics and economist have contrary point of views and provided their own theories and research work to support them.
cardinal key factors influence economic growth: technological compound and capital accumulation.
Technological change is the development of new goods and of emend ways of producing goods and services. Capital accumulation is the growth of capital resources. Your p bents are richer than your grand parents were when they were young. But are you going to be richer than your parents? And are your children going to be richer than you? The answer depends on the economic growth. (Michael Parkin p.43, 475)At one hand the group of economist strongly disagree with the fact that financial sector have any role to routine in economic growth. The ?pioneers of development economics? including Miers and Seers (1984)...
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