ARTICLE PUBLISHED: “The Sources of Economic Growth: What if Countries were Companies?”

Professor Jorge Sá (PhD Columbia University; MBA Drucker University; Jean Monnet Chair; Peter Drucker speaker) recently published the article “The sources of economic growth: what if countries were companies?” on the September/October 2023 edition of The European Business Review (UK), one of the major European large audience magazines for managers and entrepreneurs.

This article provides strong empirical evidence to the important topic of the sources of economic growth, as the questions remain: why do some countries grow while others stay behind? Why are some able to offer world treasured brands and others nothing outstanding?

Since many multinationals (from the UnitedHealth group to Volkswagen) are larger than countries, this article raises the question: what if one considers countries as large diversified companies, whose competitiveness depends on the quality of their business administration areas (strategy, marketing; human resources; etc.)?

Under this perspective and evaluating the business functions with official data (e.g. from World Bank) in some instances, and indexes by NGOs (e.g. the Global Entrepreneurship and Development Institute) on others, or academic surveys (Bloom et al.) still on others, one is able to explain 90% of the income variance among 33 countries during the five years period in between the end of the subprime crisis and the start of the Covid recession.


Jorge Sá recently retired from Professor at IESE associated AESE (site:

He is a Peter Drucker expert and a speaker on Peter Drucker, with whom he studied and who offered letters of recommendation for his books and endorsements for his work.

His books have been translated into twelve languages, published over thirty articles in blind refereed academic reviews and journals, has addressed conferences and given seminars at several institutions (e.g. TED USA – –, London Business School, Oxford, IESE, George Washington University, Peter Drucker Society of Europe, European Commission, etc.), and has worked as private consultant, non-executive director or taught in the executive programs of multinational companies such as: Coca-Cola, SHELL, Unisys, IBM, Glaxo, British Petroleum – BP, Makro (Metro group), Intermarché, Scottish & Newcastle, Sara Lee, Total, Johnson & Johnson, Pfizer, Henkel, McDonald’s, UnitedHealth group, Vodafone, Merck, Volkswagen Group, Microsoft, etc.

He speaks and writes (by alphabetical order) English, French, German, Portuguese and Spanish.

His hobbies are soccer (degree as professional coach) and the relation between military history (battles) and business administration, having written several books on the topic.

For more information on Professor Sá’s conferences please check our website at: or contact us at .

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