Question
Since the end of World War II, developing countries have struggled to catch up with the high per capita income levels of the developed world
Since the end of World War II, developing countries have struggled to catch up with the high per capita income levels of the developed world and stay there. Arguably, only a few countries have succeeded in making this leap. Describe at least one successful and one unsuccessful strategy that developing countries adopted and, for each, explain why the strategy succeeded or failed in sustaining economic growth and achieving "convergence." Be sure to give examples of countries that adopted each strategy, the specific types of policies they enacted, and the endowments, interests and institutions that helped or hindered their developmental progress.
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