Concept of Development: 895556

Introduction.

Development has been figured .it is a common term used frequently .it is used in the: studies of development, problems of development  the challenges facing developing countries, less developed countries, issues of underdevelopment ,  development strategies, development aid,  development policy to list but a few. (Dichter 2003). So what does development mean?

There have been many definitions of the term development but here is a basic concept: Development is a quantitative concept of economic growth, it may mean the same as economic growth yet we limit our perspective to the sphere of economic it is however very transparent that economic development extends that of economic growth alone. Development is therefore more than just economic growth ,it is inclusive of political growth ,environmental growth and the aspect of economic growth .al this factors when viewed together are able to show the possibility or non of so of a country to comfortably support its citizens to the above a dollar living standard and constant growth

While using the term ‘development’ it is imperative to note that some regions and countries all over the world are very poor this countries are classified as underdeveloped and developing countries mostly African while some other countries which represents a smaller fraction of the world overall population are extremely prosperous (Castles et al. 2013) which are classified as developed countries mostly countries in the west whose citizen almost all of them live beyond a dollar  a day. There are some basic questions which are always tied up with the discussion of development. These questions include: Why are there rich countries and poor countries?

Baically,Development is the process through which a country strives to improve itself politically, socially economically and as well as the social confidence of the people, (Abdellatif 2003, 31).Development is considered progress of a country towards its citizen’s comfort. This term is frequently used by the economists, statisticians and the politicians. This term and definition may be new but the concept has existed for many centuries. There is a direct connection with the issues concerning the environment and the environment itself. Destruction or poor environment has a direct link to higher development infrastructure and amenities take a toll on the environment during the developing period. It is a policy that is aiming and determined to improve the social well being and the economic status of the people.

Economists use several macroeconomic and sociocultural indicators to assess the development of a country. As compiled by the World Bank, development indicators include: GDP, family income, health care, and child mortality. GDP is obtained when the gross domestic product is divided by the midyear population of the product (Moniruzzaman 2006).  The total value of resident’s producers in the economy added the taxes imposed on the product and subtracted any subsidizes is what is known as GDP.

 One of the key issues affecting the developing countries is the low standard of living. Low living standards include every individual living under a dollar a day .that is usually a very large population in developing countries. Which has been the main issue for several years? Since this population is a large group that depends on handout derailing development

 While discussing the topic development, there are some factors that can’t be left out. The factors include stagnation and the influence of development, development of per capita over a certain period and the development of per capita income over time (Escobar 2011).  However, the relationship between non -economic and economic factors plays an important role for understanding the dynamics of socioeconomic development. The concept of economic development cannot be explained by economic factors only, there are several other concept that changes the economic indicators.

METHODOLOGY

Methodology is the process of applying a theoretical and an orderly analysis on methods applied during field study. It has theoretical analysis of the method and all the principles associated with the method. (Kothari 2004) it includes the concept like qualitative, theoretical model and quantitative techniques for the study. It shows the sampling procedures sample data collection and analysis

PRINCIPAL COMPONENT ANALYSIS

PCA (Principal Component Analysis) is a method used to compress and classify the data from a large group of data to a smaller in size data without losing the data relevance

Principal Component Analysis is a useful method for compressing and classifying the data. The aim is to lower the dimensionality of the data set. This is achieved by obtaining new variables which is smaller than the original variables that retains majority of the data’s information (Wall et al. 2003, 91).

The main idea of Principal Component Analysis is to statistically lower the dimension of the data. This includes the large number of correlated variables. The variation of the present data is retained as much as possible (Ringnér 2008, 303).

 This is achieved by compressing data into to a new set of variables, the principal components (PCs), which are not correlated, and which are ordered so that the few retain most of the variation present in all of the original variables.

EMPIRICAL ANALYSIS.

Principal component analysis was used to compress the data for this study into a fewer number of components as shown below. All the factors provided for by the data were used in this analysis.

VALIDATION OF THE METHODOLOGY

Principal component analysis is the best method to analyze this data because it  purposes to minimize and or subset the data to obtain new set variables which are relatively smaller than initial data set. It also aims at retaining the most important information.

Information means that the variation of the data is obtained by conducting correlation between the new data and the initial data. Principal components (PCs) are a fraction of the total information each retains. For this study a data set of ten factors namely; education expenditure, health expenditure,CO2 emissions, child mortality, population living under poverty, total family income has been reduced to four components which we refer to as principal components.

CONCLUSION

This study shows that the education expenditure, health expenditure CO2 emissions and child mortality have the significant influence on the development of a country; GDP(Gross Domestic Product) is a factor very important for the development a country.

Countries with high GDPS like America and Russian have equivalently shown high health expenditure and education expenditure a country’s development includes every single factor, from health care all through to annual family income.

While countries with low GDPs show very equivalent low health expenditure ,low education expenditure high infant mortality rate .this further shows that a country’s development is dependent upon every factor as stated above .

REFFERENCES.

Abdellatif, Adel M. “Good governance and its relationship to democracy and economic development.” In Global Forum III on Fighting Corruption and Safeguarding Integrity, Seoul, vol. 20, p. 31. 2003.

Castles, Stephen, Hein De Haas, and Mark J. Miller. The age of migration: International population movements in the modern world. Macmillan International Higher Education, 2013.