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In the early phases of these countries history output grew in South Africa at a rate of 4% while Zambia had the following growth rates
In the early phases of these countries history output grew in South Africa at a rate of 4% while Zambia had the following growth rates
Growth rate of TFP: 2%
Growth rate of Capital: 6%
Growth rate of the Labor force: 1.5%
the South African population did not grow while the Zambian population grew by 2%. Which of the two countries had the highest growth rate in output per capita and why? Show your calculations to explain your view.
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