Answer to Question #281244 in Macroeconomics for yannick

Question

South Korea has experienced faster economic growth than Canada because:

Answer 1

South Korea has experienced faster economic growth due to its improvised technological techniques. Thriving industrialization, active policy reformations in opened foreign markets, and policies incentivizing investment innovations towards elevating the business environment. On the other hand, Canada is demerited with declination towards property rights and high government spending thus implications on inflexible labor markets.