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What Is Development Economics? Its Nature, It's Impacts, It's Uses, It's Objectives?

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Development economics basically is a stream of economics which deals with the aspects of macroeconomics which result in a long term economic growth.

This may even engage mathematical systems from a dynamic system like dissimilar equations and inter-temporal optimization; it may even engage a combination of quantitative and qualitative techniques.

Diverse from traditional economics, development economics integrates social and political approaches to devise exact plan for development in third world nations. Development economics also comprise of topics like Third World Dept, and the workings of such organizations as the International Monetary Fund or the World Bank.

The most well–known modern day development economist is perhaps the Noble laureate Amartya Sen. The foundation of restricted growth and divergence in economic growth is based on the high rate of technological transformation by small number of developed countries.

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