Which of the following countries benefited a lot from the catch-up effect in the last half of the twentieth century?

Question

Quizplus · Accepted Answer

South Korea is known for its remarkable economic growth in the last half of the twentieth century, which was largely attributed to the catch-up effect. This country's GDP per capita grew from $100 in 1960 to over $20,000 in 2019. In contrast, Ethiopia remains one of the world's poorest countries with a lower GDP per capita than South Korea. The United States and Canada are advanced economies that did not rely on the catch-up effect to achieve their level of development.

Which of the Following Countries Benefited a Lot from the Catch-Up