Long-run economic growth is:

Question

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Long-run economic growth is higher in countries with a strong rule of law and political stability because it creates an environment of certainty and predictability, which encourages investment and innovation. This leads to increased productivity and economic growth. Countries with a weak rule of law and excessive government intervention, as well as those with a strong government and independent judiciary, may face challenges that impede economic growth. Similarly, countries with courts that enforce property rights and a government that protects its citizens may have better protection against corruption and theft, which can also contribute to economic growth.

Long-Run Economic Growth Is