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Question 4 [14 MARKS] During the last two decades of the twentieth century, the difference in GDP per capita among the world's richer countries (e.g.
Question 4 [14 MARKS] During the last two decades of the twentieth century, the difference in GDP per capita among the world's richer countries (e.g. many countries in Western Europe, the UK, Japan, the US and Australia) and the once relatively poorer Asian countries (e.g. Singapore, Hong Kong, South Korea and Taiwan, known as the 'Asian Tigers') narrowed significantly. More recently, other countries have emerged as economic powerhouses, such as China, India, Russia and Brazil (known as the BRIC economies). In contrast, many African countries are still struggling to improve their economies and their living standards. 1. Using your knowledge of the determinants of long-term economic growth, discuss why you think some countries have been able to achieve growth and a new economic dominance, while others have remained poor and underdeveloped for such a long period of time. 2. Does it matter if countries achieve growth through an increase in production factors or an increase in productivity
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