The concept that refers to economic independence from colonial powers leading to a newly independent nation-state is known as decolonization. This process often involved the dismantling of colonial empires and the establishment of self-governing nations. Decolonization was fueled by various factors, including nationalist movements and the desire for autonomy among colonized regions. It transformed political boundaries and initiated significant social and economic changes, paving the way for newly independent states to assert their identities and pursue development outside the influence of former colonial powers.