What do you think are the reasons why every country has different levels of
economic development?
An overall increase in a country's quality of life is an indicator of financial progress.
Economic development improves a country's wealth but measuring the growth may not be easy. Not all growing country is developing country. It is complicated and multifaceted. There are many factors that contribute to the substantial inequalities in development results. It's far more pronounced within nations than it is between them. Some people are able to achieve incredible things, while others are deprived in both absolute and relative terms. Was true for advanced civilizations like the United Kingdom and the United States becomes even more relevant for most developing countries but not all of them. Not all the government in different country came down in similarities of input and outputs that is why, every country has different levels of economic development.
There are many factors that contribute to the substantial inequalities in
development results. There is a large body of literature that attempts to explain outcomes based on natural resource endowments, geography, history, culture, or other factors that may exist. This may also be attributed to a variety of physical and human factors. A country's development is also influenced by factors such as the climate and the style of governance. No two countries are alike. But it's still feasible to identify a variety of elements that influence growth. More than one economist has documented how patterns in the distribution of resources favour the elites, leading to "capture" as well as predatory institutional development. In the economy, the government has its role and it affects the overall performance of the economy. Indeed, the government must seek to figure out what drives economic growth.