1945

A question of strategy: What characterizes top growth performers?

This contribution looks at the characteristics of countries that have performed best in terms of real GDP per capita growth between 1980 and 2013. It is found that three types of countries can be found among this group: a few tiny economies that have found a specific niche in the world market; some petroleum exporters that have found new fuel sources; and a relatively large number of countries that had an undervalued exchange rate and a deliberate development strategy, often including explicit industrial policy. Interestingly, institutional quality as generally measured by standard indicators does not seem to play a decisive role in terms of being a top performer; rather, this group comprises both countries with good rule of law and low degrees of corruption as well as those with bad scores for the two indicators.

Related Subject(s): Economic and Social Development
Sustainable Development Goals:
/content/books/9789210575577c005
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