Desarrollo Económico (Economic Development)

Definition

Economic development refers to the sustained increase in a country's economic growth and improvement in the standard of living for its citizens.

Related terms

PIB (Producto Interno Bruto): PIB measures the total value of goods and services produced within a country's borders during a specific period.

Inversión Extranjera Directa (Foreign Direct Investment): FDI is when individuals or businesses from one country invest capital into another country to establish or expand their operations.

Desigualdad de ingresos (Income inequality): This term refers to the unequal distribution of income among individuals or households within an economy.