What is the Sustainable Growth Theory in Economics?

It asserts that local and regional development has been too focused on economic growth, therefore, creating a need to respond to other issues such as ecological and environmental problems and how to increase sustainability in economic, social, and environmental terms. It seeks to understand and explain the longer term, more durable and less damaging forms of local and regional development that integrate economic, social and environmental concerns. Competitive advantage could be actively created through the strategic management and upgrading of corporate activities or value chains.  Echoing elements of institutionalism and socio-economic theories, clusters are seen as capable of providing an intermediate organizational form and means of coordination in the continuum between markets and hierarchies. In simple terms, working within neo-classical economic development theory means that sustainable development delivery must rely upon the traditional and often criticised belief that increased economic growth in developing countries.

The post What is the Sustainable Growth Theory in Economics? appeared first on interaksyonph.