Which of the following is a public policy to foster economic growth that typically would be favored by the government of a high-income country rather than a developing country?

Question

Quizplus · Accepted Answer

Fostering agglomeration of similar industries is a strategy more commonly pursued by high-income countries to leverage the benefits of industrial clusters, such as increased productivity, innovation, and economic growth. This approach relies on a well-developed infrastructure and a sophisticated business environment, which are more characteristic of high-income countries. Developing countries, on the other hand, often focus on more fundamental challenges such as reducing corruption, encouraging international trade, and improving infrastructure to lay the groundwork for economic growth.

Which of the Following Is a Public Policy to Foster