Trends in the economic growth of South Korea have been significantly different from those of North Korea.This is primarily because ________.

Question

Quizplus · Accepted Answer

The significant difference in economic growth between South Korea and North Korea is primarily due to the fact that South Korea has inclusive institutions (such as democracy, rule of law, and property rights) that foster growth and development, while North Korea has extractive institutions (such as dictatorship, censorship, and state control of resources) that inhibit growth and development. The quality of agricultural land is not the main factor influencing this difference in economic growth.

Trends in the Economic Growth of South Korea Have Been