Catching-up growth occurs primarily through capital accumulation and the adoption of simple ideas that already exist.

Question

Quizplus · Accepted Answer

Catching-up growth refers to the process by which developing countries increase their economic growth to reach the same level as advanced economies. This growth is primarily driven by capital accumulation, which includes investment in physical infrastructure and technological advancements, and the adoption of simple ideas that already exist, rather than the creation of new ideas. Therefore, the statement is true.

Catching-Up Growth Occurs Primarily Through Capital Accumulation and the Adoption