Choose and answer one of the following four questions: 

Berg, Ostry and Zettelmeyer identified in their IMF Working Paper - What Makes 25 Growth Sustained? (2008) - (available on course Blackboard site - Growth and Inequality pdf in Growth, Infrastructure, Education, Inequality section) - a handful of economic and political characteristics that appear to sustain, and are more conducive to, long-term economic growth are listed as follow: 

a) More equal income distribution.

b) Democratic institutions.

c) Openness to trade and foreign direct investment.

d) An export or production structure that favours manufacturing and relatively sophisticated exports.

e) Lower inflation rates; and f) fewer instances of high depreciation (Currency stability). 

Pick three (3) characteristics from the above six (6) listed characteristics and rank them from most important =1 to least important =3 in sustaining long-term economic growth. Explain the rationale behind your rankings.