Research Information System
14th World Conference on Transport Research (WCTR), Shanghai, China, 10 - 15 July 2016, vol.25
Economic development is a process in which an economy converts itself from one where the community saves and invests at low levels to another where these variables are turned into higher values. Putting it in other words, more than this rather rudimentary approach, economic development can be described as a process of structural change of the economy. We can describe it as a process in which sectoral composition of the economy as well as relative sizes of the sectors undergo a serious transformation. Therefore, there appears a change in the structure of sectoral balance in the economy as some sectors resume a leading role while some new sectors may appear perhaps in parallel with the new external dynamics. In this sense economic development is an uneven process. If we dwell on this structuralist paradigm a development policy should aim at creating strategic imbalances.