The Catch-Up Effect Is a Well-Known Phenomenon in the Study

question 71

Essay

The catch-up effect is a well-known phenomenon in the study of economic growth and has been exemplified by countries such as Japan, Singapore, and South Korea. What allows a country to experience the catch-up effect?

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Definitions:

Severe Depression

A psychological ailment manifested by an enduringly low mood or disinterest in hobbies, substantially interfering with normal life.

Major Depressive Disorder

A mental disorder characterized by persistent sadness, lack of interest in activities, and additional physical and cognitive symptoms, affecting daily functioning.

External Cause

External cause involves factors or events outside an individual that have an impact on their behavior or the outcome of a situation.

Anorexia Nervosa

A serious mental health condition characterized by an eating disorder with an intense fear of gaining weight and a distorted body image.