{
  "id": 14318800,
  "title": "8% GDP growth a tall order, says Nobel laureate",
  "url": "https://urgent.news/2026/10/13/8-gdp-growth-a-tall-order-says-nobel-laureate",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-13T23:30:06.000Z",
  "source": {
    "name": "The Jakarta Post",
    "slug": "the-jakarta-post",
    "url": "https://www.thejakartapost.com/business/2026/10/14/8-gdp-growth-a-tall-order-says-nobel-laureate.html"
  },
  "original_language": "en",
  "account": "Renowned economist and Nobel laureate James Robinson has expressed skepticism about President Prabowo Subianto's ambitious goal of achieving 8% annual gross domestic product (GDP) growth in Indonesia. Addressing a gathering at Jakarta-based policy think tank Prasasti, Robinson noted that while rapid growth is theoretically possible, historical evidence suggests such high growth rates are the exception rather than the norm.\n\nRobinson, co-author of \"Why Nations Fail\" with Nobel laureate Daren Acemoglu, presented data showing that only 18 countries worldwide have sustained 8% annual growth for a decade or longer. These nations include South Korea from the 1960s to the 1980s, China during the 1980s to 2000s, Singapore and Taiwan in the 1960s to 1970s, Japan in the 1950s and 1960s, and Myanmar in the 2000s.\n\nThe economist highlighted that rapid growth is not a universal phenomenon, emphasizing that only a small number of countries have experienced this level of growth. He questioned why some countries manage this feat while others do not, stating that the issue is multifaceted and not straightforward. Robinson pointed out that countries with abundant natural resources, such as the Gulf states with oil or Botswana with diamonds, have achieved exceptional growth; however, the fate of that wealth largely determines a nation's trajectory. Some countries have successfully invested in development, while others, like Equatorial Guinea, have squandered their resources.\n\nIn summary, Robinson's remarks underscore the challenge of achieving 8% annual GDP growth, emphasizing that such growth is the exception in the global landscape.",
  "summary": "Nobel laureate James Robinson says President Prabowo Subianto’s goal of 8 percent gross domestic product growth is a tough ask but not impossible, if the right institutions are in the right place and head in the right direction.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}