The recent growth records of Japan and Hong Kong during the last 50 years indicate that a nation can grow rapidly without:
A) securely defined property rights.
B) adopting modern technology.
C) significant capital formation.
D) abundant domestic natural resources.

Question

Quizplus · Accepted Answer

Japan and Hong Kong have demonstrated significant economic growth despite having limited domestic natural resources. Their growth has been driven by factors such as adopting modern technology, significant capital formation, and securely defined property rights, rather than relying on natural resources.

The Recent Growth Records of Japan and Hong Kong During