First World countries are highly urbanised, and citizens enjoy universal access to health, education and housing. They also exhibit high productivity, strong service sectors and freedom of movement because of infrastructure.
Within decades, many Asian countries made the transition from Third World status to First World status.
Some countries in Africa are well placed to make this transition. These include Ethiopia, Rwanda, Uganda and Kenya, Ghana, Côte d’Ivoire Gabon, Mozambique, Angola and South Africa.
We believe that these countries can emulate the “Asian miracle”, but only if governments take decisive steps to achieve certain outcomes. East Asia has a remarkable record of high and sustained economic growth. From 1965 to 1990 the 23 economies of East Asia grew faster than those of all other regions of the world. Most of this achievement is attributable to seemingly miraculous growth in the eight economies studied.
First, gross domestic product (GDP) per capita or the average household income must be improved. It is impossible to sustain important aspects of human development without this.
Second, state intervention and robust national leadership are crucial. The economic strategies of successful countries were influenced by leaders who were committed to rapid development. They had a focus on growing human capital. This in turn led to increased productivity, increased household incomes and an improvement in the general standard of living.