The growth report

Malta is mentioned in a new World Bank report that sheds light on success strategies of fast-growing countries:

South Korea is one of only 13 countries that managed to pull off a kind of miracle in the post World War II era—economic growth averaging 7 percent or more for at least 25 years in a row, according to the “Growth Report: Strategies for Sustained Growth and Inclusive Development.” The report was prepared by the Commission on Growth and Development, an independent body supported by Australia, Sweden, the Netherlands, United Kingdom, William and Flora Hewlett Foundation and the World Bank Group.

High, long-lived growth isn’t easily achieved, but the report by some of the world’s top policy-makers and thinkers argues it can be repeated in other countries, thereby giving them a chance to reduce poverty and improve opportunity and quality of life for their citizens.

“The Growth Report,” released today in London, Cairo, Cape Town, New York and St. Kitts, seeks to unlock the growth strategies of high growth countries and highlight the potential of economic growth to improve lives around the globe. Some 3 billion people have been able to enjoy the fruits of growth in the post-war period, and another 2 billion could also benefit from the global economy..

Six countries, including Hong Kong, Japan, Korea, Malta, Singapore and Taiwan, China, sustained high growth long enough to reach high income status, but several others lost momentum long before catching up to the world’s leading economies...