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Based on the variable rate of gross domestic product per capita growth and its sources, this paper first identifies five phases of economic development that are common to China, Japan, and Korea: M (Malthusian), G (government-led), K (à la Kuznets), H (human capital based) and PD (post...
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, societal norms, and institutions. Religion affects physical capital accumulation by influencing thrift and financial …
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preferences, societal norms, and institutions. Religion affects physical capital accumulation by influencing thrift and financial …
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