Todaro and Smith (2020: 192) state “…different countries face different binding constraints on achieving faster rates of growth and development…”. Analyse this statement in light of the Hausmann-Rodrik-Velasco Growth diagnostic decision tree for South Africa that faces a high cost of finance.

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A: 1. Trade liberalisation Tariffs and other barriers to free trade between countries are removed…

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A: The mainstream institution theories have a highly problematic understanding of the relationship…

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A: Exogenous choices are the choices that influences externally on the identity of a place.

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