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ECONOMIC GROWTH AND DEVELOPMENT

(JPMNT) Journal of Process Management New Technologies, International Vol. 3, , 2015. 55 ECONO MIC GROWTH AND DE VELOPMENT Mladen M. Ivic, PhD, PIM University of Banja Luka, 78000 Banja Luka, +38765-494-581 Abstract: Under ECONOMIC GROWTH mean constantly increasing volume of production in a country, or an increase in gross domestic product as the main quantitative indicators of production for a period of one year. ECONOMIC DEVELOPMENT is not only quantitative changes when it comes to the ECONOMIC position of the country, but also qualitative changes (changing the ECONOMIC structure, the emergence of new sectors and industries, new jobs, ).

3. Sources of Economic Growth Economists are not satisfied with just trends and theories, but portray the sources of economic growth. They attach special importance to the calculation of growth, so that the ingredients are thoroughly calculated that caused growth trends. Japan and previously the Soviet Union in the period 1930-1960.

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