The Role of the Academy in the Economic Development of Nations

Abstract

The reasons behind the complexity of economic development are important for academics to understand if they are to effect change or contribute to economic development. Economic development is difficult to define and measure, but is seen as necessary for progress. Factors impacting economic development include political stability, health, culture, and information technology. Potential contributions by academic institutions include motivating students to participate in activities contributing to economic development, and knowledge transfer to the community.