How Rich Countries Got Rich — And Why Poor Countr...

: No country has reached high-income status without a sustained period of industrialization.

focus on manufacturing and high-tech sectors with increasing returns (where more production lowers costs and boosts learning). How Rich Countries Got Rich and Why Poor Countr...

According to Reinert's analysis on Network Ideas and Earthbound Report : : No country has reached high-income status without

: Rich countries used tariffs and subsidies to build their industries, then promoted free trade once they were dominant. Increasing vs. Diminishing Returns : How Rich Countries Got Rich and Why Poor Countr...

are often trapped in raw material exports (agriculture, mining) characterized by diminishing returns .

Research from the St. Louis Fed and DIIS identifies several structural barriers: