1. There is high rates of per capita output and population growth.
Countries experience multiples of growth in their economies accompanied by population.
2. High rates of productivity increase.
There is high rise of factor productivity.
3. High rates of economic structural transformation.
There is an increase in structural and sectoral change inherent in growth process. For example, change from manufacturing to service industry.
4. High rates of social, political and ideological transformation.
For a significant economic structural change to take place in a society concomitant transformations institutions ideology is necessarily.
5. International economic outreach.
This relates to propensity to which country reach the rest of the world for raw materials, cheap labour and market for their products.
Jonmhumble answered the question on October 24, 2017 at 13:24
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