If it could increase its growth rates slightly, a country with low income would catch up with rich countries in about ten years.

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Quizplus · Accepted Answer

Economic catch-up, or convergence, typically requires sustained high growth rates over a long period, much longer than ten years, especially if starting from a low-income base. Factors such as investment in human capital, infrastructure, technological adoption, and stable economic policies are crucial for catch-up and usually take significant time to implement and yield results.

If It Could Increase Its Growth Rates Slightly, a Country