Country C is most likely to be the most successful in promoting growth in Doyle and Rodriguez’s table. It has an open economy (no tariffs), lowest currency risk, and the highest population growth. An open economy is one in which trade and capital flows freely across its borders. With an open economy, an economy gains increased access to technology, inputs, and markets. A stable macroeconomic environment promotes economic growth and is characterized by stable inflation, responsible fiscal policies, stable currency values, and accommodating governmental policies. A higher population and employment growth favors faster economic growth. Note that military expenditures as a percent of GDP are not mentioned in the review as a distinguishing characteristic of successful emerging countries |
