The development of countries like South Korea and Singapore has been underlaid by all of the following except:
A) High domestic interest rates
B) R&D and product innovation
C) Education and on-the-job training
D) High levels of saving and investment

Question

Quizplus · Accepted Answer

High domestic interest rates have not been a key factor in the development of countries like South Korea and Singapore. In fact, these countries have often pursued policies of maintaining low interest rates to encourage investment and borrowing. Other factors such as R&D and product innovation, education and on-the-job training, and high levels of saving and investment have been critical in their economic growth.

The Development of Countries Like South Korea and Singapore Has