Economic development is the development of economic wealth of countries, regions or communities for the well-being of their population and economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating or retaining jobs and supporting or growing incomes and the tax base.
There are some scholars view the favorable effects between democracy and economic development as single-directional; that is, economic development leads to democracy, but democracy retards economic development. And there fore democracy would be directly related with economic level, but inversely related with economic growth, since wealthy countries might have reached high economic level for other reasons, but would slow down after democracy is established, while for poor countries economic development has not create a favorable environment for democracy
Economic development is the development of economic wealth of countries, regions or communities for the well-being of their population and economic development can be defined as efforts that seek to improve the economic well-being and quality of life for a community by creating or retaining jobs and supporting or growing incomes and the tax base.
There are some scholars view the favorable effects between democracy and economic development as single-directional; that is, economic development leads to democracy, but democracy retards economic development. And there fore democracy would be directly related with economic level, but inversely related with economic growth, since wealthy countries might have reached high economic level for other reasons, but would slow down after democracy is established, while for poor countries economic development has not create a favorable environment for democracy
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