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Why Are Some Countries So Rich and Others So Poor?

Thursday, December 24, 2015

The income gap between the richest and poorest countries has grown from a factor of two to a factor of 35. However, inputs—such as physical or human capital—only explain around half the difference. In this video, Vice President and Deputy Director of Research B. Ravikumar discusses this gap, the efficiency of countries in converting inputs and how it translates to gross domestic product.

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Posted In LaborOutput  |  Tagged b ravikumaroutputgross domestic producttimely topics