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Both in English and Hindi. These are most commonly described as the creation of jobs and wealth, and the improvement of quality of life. The Open Textbook Library is supported by the Open Education Network. Economic development can also be described as a process that influences growth and restructuring of an economy to enhance the economic well being of a community. Large selection and many more categories to choose from. Introduction to Development Fall 2008 Focus on institutions and policies is the result of research on comparative economic performance which has produced some critical stylized facts: 1. Jhingan The Economics of Development and Pl BookZZ.org Factor accumulation does not account for the bulk of cross-country differences in the level or growth rate of GDP per capita. Hence, we need newer ways of looking at development using indicators of quality of life and environmental sustainability. This textbook is unique among economics textbooks. 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