A study on effect of economic growth on economic development with reference to sultanate of Oman

This paper aims to study the economic growth and development. The term economic growth is an element of economic development from economic perspective. The researcher tries to study whether economic growth and economic development are going parallel or there is any significant difference between the growth and development. This study also aims to explore the relative influence of economic growth on economic development. For this study, researcher considers Gross Domestic Product (GDP) is an indicator of economic growth in the country. Whereas the economic development includes human welfare elements such as per capita income, reduction in poverty, growth in employment, equality, life expectancy, literacy rate, access to health, standard of living and sustainable development are some of the important elements which are considered to be socio-economic indicators of the developments. However in this study, an attempt has been made to find out correlation between GDP and employment in public sectors and private sectors, per-capita income, expenditures on education and health.

The research is based on secondary data and empirical evidences being used to support the study. Period of study is taken from 2006–2010. An appropriate statistical tool-correlation coefficient analyses has been used to make the study meaningful.