In the last few centuries, the world has seen unprecedented stratification between economic growth of countries. This study takes a quantitative approach to the role that nationalism and colonial history may play in the economic growth rates of countries. It explains the factors that are linked to nationalism and colonial background and explores the intersection between the two. The effect of these variables on economic growth is measured using cross-sectional data from 74 former European colonies that gained independence after the Second World War, or the year 1945. Using an Ordinary Least Squares (OLS) regression, it was found that region, form of government, and imports have significant effects on economic growth.