Real increase in a country’s Gross Domestic Product (GDP) and per capita income. It is usually measured annually to compare how much each year has grown, and per capita to make reasonable comparisons between countries. The causes of economic growth are technical progress, investment and accumulation of capital (both physical and human), openness to external markets, and maintaining certain minimums in terms of physical and legal security, peace, and freedom. Economic growth is one of the general macroeconomic objectives of a country’s economic policy, along with full employment, minimal inflation, stability in the exchange rate, and adequate distribution of income.
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