Impact of Government Policies on Economic Growth

Government policies play a critical role in influencing economic growth and development. Different types of policies can impact various sectors of the economy, aiming to enhance productivity, create jobs, and reduce inequality. Consider the following scenarios:

In Country X, the government has implemented significant tax incentives for research and development (R&D) in the tech industry. They have also directed funds towards education and skills training programs designed to foster human capital. Conversely, Country Y has focused on implementing strict regulations on labor markets to protect workers' rights and increase job security.

Which of these policies is more likely to promote long-term economic growth in the context of these two countries?