Economic Growth and Development Factors

This chapter provides an overview of the traditional and modern factors, including natural resources, human resources, knowledge resources, infrastructure, and capital resources, that influence the economic growth and development of countries in general, including the world’s smallest economies. Furthermore, it describes the types of economic growth pursued by the world’s smallest economies (e.g., resource-based economic model, investment-based economic model, and innovation-based economic model), which, in effect, lead to an increase in their economic potential.