Comparison of the influence factors on economic development: Evidence from developing and developed countries

Economic development is growth associated with increased production capacities ranging from physical capacity, human and social. Driving forces in economic and social development of countries can be divided into two main groups, social factors, cultural and economic factors. The study is being tried with the help of econometric techniques to panel data methods will be compared The most important influencing factors on economic development in both developing and developed countries in the period 1996 - 2011. So is estimated effectiveness of three indicators of political stability and social order, education and literacy for innovation and value as cultural and social factors and quality of technology, the appropriate distribution of income and contain inflation as economic factors, in both groups of countries. Estimation results show that in the socio-cultural factors in developing countries, political and social stability indicators and in developed countries, education and literacy indicators, and also in the economic factors contain inflation index in developing countries and quality indicators with the highest impact on the level of developed countries have the technology.