Sustained economic growth that surpassed population growth, lifting per capita GDP. Achieving sustained growth over a couple of decades or longer is among the top challenges for emerging economies. But only 18 emerging economies achieved such growth benchmarks as per capita GDP grown of more than 3.5% over 50 years, or 5% growth over 20 years, lifting close to a billion of people out of extreme poverty—see Tables 1 and 2. That’s according to a recent McKinsey Global Institute (MGI) study, which surveyed the growth patterns of 71 emerging market economies. Early on, some of these policies helped emerging economies take the leap from a “traditional” to a “transitional society,” along Rostow’s typical stages of growth.

Source: Forbes October 02, 2018 00:56 UTC