In the text, when we examined statistics from a wide range of developing countries. We found that growth does not guarantee poverty reduction; while higher income is clearly associated with less poverty, economies can even reach upper-middle-income status but continue to struggle with a quite high incidence of extreme poverty. What does this tell us about the importance of the character of a nation’s growth process and about its institutional structure?

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We know that the word development is a big word with many different characteristics development indi... View the full answer