Relationship Between Economic Growth and Economic Development

Economic growth is the sustained increase in the value of a country's real GDP over time. 

Economic development includes economic growth, but also considers the quality of life and the planet. 

Therefore, economic growth generally brings economic development alongside it, but this is not guaranteed. Many countries with high economic growth rates have bad economic development figures. 

• Growth may increase inequality, pollution, and conflicts, reducing development. 

• However, growth may also alleviate poverty, increase efficiency, and lead to increased government spending on education and healthcare, increasing development.