Growth Thresholds Explained
Countries can achieve rapid growth once they surpass a threshold of around 5 to 10% of US GDP per capita, enabling them to escape poverty traps and coordination failures. While this growth phase, akin to the takeoff stage, can see rates soar to 8% annually, challenges like corruption and poor infrastructure still persist. As nations transition into the drive to maturity, new barriers emerge, emphasizing the need for continued institutional reforms to sustain growth.In this clip
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The Science of Everything Podcast
Episode 108: Political Institutions and Sustained Economic Growth
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