Question: Why are some countries rich and others poor? Post a meaningful discussion on the determinants of economic growth. Economic structures determine the rate of structural
Why are some countries rich and others poor? Post a meaningful discussion on the determinants of economic growth. Economic structures determine the rate of structural learning, affect institutional performance, influence the distribution of income, and establish the direction of political transitions, thereby, economic performance. The paper shared this week highlights the feedback loops among institutions, political power, and economic structures, thus, markets on their own will not ensure growth-enhancing transformations. Discuss while providing insightful information.
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