What is economic development and does it increase wellbeing?

Lana Pritchett identifies four elements of economic development and reports that economic development raises wellbeing, especially at low levels of income. From the abstract:

"Core dual ideas of early development, economics and practice, were that (a) national development was a four-fold transformation of countries towards: (i) a more productive economy, (ii) a more responsive state, (iii) more capable administration, and (iv) a shared identity and equal treatment of citizens and that (b) this four-fold transformation of national development would lead to higher levels of human wellbeing. The second is strikingly correct: development delivers. National development is empirically necessary for high wellbeing (no country with low levels of national development has high human wellbeing) and also empirically sufficient (no country with high national development has low levels of human wellbeing)."