Contents and Measurement of Socioeconomic Development

Growth refers to quantitative change which takes place in all sectors of an economy, while development refers to both qualitative and quantitative changes in a country. "Development is not only economic growth, but growth plus change; social, cultural and institutional as well as economic" remarks Alpert (1963). Growth is a means for development whereas the per capita index has been the long recognised measure for growth, no such universal indicator exists for the measurement of development which is multi-dimensional by its very nature.