Category: Economic Growth

Countries that experienced rapid economic growth, such as South Korea, leveraged several key strategies and policies to achieve their impressive development. Here are the main “secrets” or factors that contributed to their economic success: 1. Strong Government Intervention and Strategic Planning South Korea’s government played a pivotal role in guiding economic development through: 2. Investment…

The growing chasm between “rich” and “poor” countries, often referred to as the global economic divide, can be attributed to a complex interplay of historical, economic, political, social, and technological factors. Here are the key reasons behind this widening gap: 1. Historical Factors 2. Economic Policies and Governance 3. Education and Human Capital 4. Technological…

The ebb and flow of economic growth, often observed as economic cycles of expansion and contraction, can be explained by a combination of factors. These factors include both internal dynamics within the economy and external influences. Here are the key elements that contribute to the fluctuations in economic growth: 1. Business Cycles 2. Monetary Policy…

Addressing low output and high unemployment in South Sudan without resorting to massive increases in government deficits and debt requires a comprehensive approach that focuses on improving the country’s economic fundamentals, promoting private sector development, and implementing targeted policies to stimulate growth and employment. Here are several strategies that could be considered: By implementing a…

Which is larger as a share of GDP in most rich countries, investment or government purchases? What about in most poor countries? In most rich countries, investment tends to be larger as a share of GDP compared to government purchases. This is because rich countries typically have well-developed private sectors, robust financial markets, and higher…

Which country had the faster annual growth of per capita GDP between 1960 and 2019, Botswana or China? What about since 1960? To determine which country had the fastest annual growth of per capita GDP between 1960 and 2019, we need to compare the average annual growth rates of per capita GDP for Botswana and…