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What is Kuznets Theory of Economic Growth about?

Professor Simon Kuznets identified six characteristics of modern economic growth: 1) High rates of growth in per capita output and population. Developed countries experienced annual growth rates of around 2% for per capita output and 1% for population. 2) High rates of total factor productivity increase, accounting for 50-75% of per capita output growth due to technological progress. 3) High rates of economic structural transformation, such as a shift from agriculture to industry and services. 4) High ra

Author

Zia Din

Language

EN