Economic Development Project (EDP) Research Paper

Economic Development Project (EDP) - Research Paper Example due(p) to lack of a single definition of economic development that incorporates all its aspects, it is basically defined in terms of its objectives. As a process, it is understood as an influence on growth with the aim of enhancing the partnerships economic good (Ezeala-Harrison, 1996) . Development in the economy incorporates three major atomic number 18as in every connection or bucolic namely policies that the government undertakes to meet the economy objectives which may include rising prices control, employment and having sustainable growth. It also includes programs and policies that are put in place to offer services much(prenominal) as building roads, recreational facilities and provision of medical facilities to the disadvantaged groups in the society. It also takes into account policies and programs that are directed towards improving the business community climate through the right efforts of finance, marketi ng, business retention, technology designate and real estate development (Nafziger, 2006). Additionally, economic development is often associated with a number of taprooms which include an ontogeny in real GNP is an important euphony as it indicates the growth development of a republic and may be achieved through rapid industrialization. Increase in real per capita income is also an important measure of and usually is indicated by improved standards of living in a event country. A rise in the general well being of citizens in a particular country is also an important measure of economic development. An profit in the well being of people in normally reflected through an increase in production and consumption of goods and services. Other diverse indicators of economic development in a particular economy may include increase in income from agricultural activities ,increase in per capital consumption of capametropolis ,increased degree of urbanization and tribe levels and infan t mortality that are not too high (Arndt, 2009). Generally, the primary(prenominal) goal of economic development is therefore the improvement of the economic well being of a community through efforts by the government that maximize on job creation and job retention, taxation structures that opt the quality of life and government incentives to support marginalized groups in the society. Additionally, communities differ in terms of their geographic and the policy-making strengths and weakness thus posing a major difference in their economic development. Each country therefore has a different level of economic development policies, level of economic development and the strengths and weaknesses. In this project I will look at the economic development in Eritrea and Guyana which are develpimg economies (Galbraith, 2004). germane(predicate) characteristics It is an Eastern African country which lies on the Red Sea coastline. Eritrea is bordered by Sudan in West, Ethiopia in South and Djibouti on its South East. Eritrea as a country shares maritime borders with Saudi Arabia and Yemen. The Asmara city is found in the North Western side of the Eritrea highlands. Other major cities are Assab, Kerren, Massawa, Afabet, Tessenie, Mendefera , dekemahre and Barentu. Eritrea has a population of six million persons consisting of Tigrinya -55%, Tigre -30% with the remaining being composed of small ethnic groups. Its Afro-Asiatic population is also dual-lane in