An Introduction to Theories of National and Regional Economic Development

This conceptual paper analyses the concept of development that is a process of progressive growth that generates a transition from simple to complex system. In economics, development is a multidimensional process that generates changes in economic, political, social and institutional structures to support an accelerated growth and improvement of nations for achieving and sustaining a comprehensive wellbeing of people in society. Some theories of economic development are briefly discussed, considering national and regional economic systems. Finally, some critical contradictions of the process of economic development in society are discussed to conclude this study.