The main driver of economic growth in high-income countries tends to be _____, and much of the growth in developing country economies stems from:

Question

Quizplus · Accepted Answer

In high-income countries, the main driver of economic growth is technology, as these countries are often at the forefront of technological innovation and its application to production processes. In developing countries, much of the economic growth stems from catch-up growth, which refers to the process of closing the gap with more developed economies through the adoption of existing technologies, improvements in productivity, and structural changes in the economy.

The Main Driver of Economic Growth in High-Income Countries Tends