Maintain such investment proportion
Buy Gucci Belt the international monetary fund data, since the 1980 s, the world's average investment rate fluctuation is not big, generally remain at around 21%, which means that Gucci Store in the same period the investment rate is about 15% higher than the world average, in recent years, almost twice the global average. In the history of modern economic growth, there is no an economy, the per capita GDP in such low like Gucci Store a high investment rate.
Maintain such investment proportion, perhaps have precedents in east Asian countries, but for 10 consecutive years to maintain such a high proportion, is unique. Zhang and others argue that although the investment rate is very high, but Gucci Belt Replica investment efficiency is not reduced.
But there are also many scholars research, points out that the incremental capital - output measure of investment efficiency than by the trend of the 1990 s began to rise, in recent years has been maintained at a high of 4.7 to 5.0, which means increased, 4.7 to 5 yuan capital can increase 1 yuan GDP output, Buy Gucci Belt krugman, Lawrence lau and Yang et al., the proportion has in east Asia and Thailand, Malaysia, Indonesia and Fake Gucci Belt as well as the level before the onset of the financial crisis. High investment rate and consumption must be low, if too low, production out of things eventually either are stacked in the warehouse, or pour out, this is a very simple common sense. If an economy without consumption, what is the power of production? Zhang and others believe that Gucci Store 20 years from 1990 to 1990 annual growth rate of consumption also reached 8.6% (in addition to the compound growth rate of inflation).
That consume more than 8% a year growth rate also has been the only one like you, in the same period the world economy overall consumption is less than 3% a year. However, the growth of GDP in two or more digits, investment growth is at least 20% a year, household consumption growth rate is far behind the economy's potential growth rate. In the 1980 s, the share of consumption in GDP is higher than 50%, in the 90 s the proportion fell to 46% on average, starting in 2003, household consumption as a share of GDP began to sharply reduce, 2008 and 2009 was only 35% and 33.8% in 2010, well below the world average level (61%) and Vietnam (66%), Indonesia (63%) and Thailand (51%) of the share, well below the level of Replica Gucci Belt history.
http://mancodebook.com/ In the world the G20, Gucci Belt Replica consumption rate is the lowest. The basic common sense of economics tells us that in any economy, output growth in accounting for GDP to the total amount of the change of three basic elements, namely, consumption, investment and net exports. No consumption, output channels, there is no cash, capital cycle cannot be completed. In narrow investment concept is concerned, there is no investment, there will be no growth, it is a simple common sense, why Lin experts such as long. But if only emphasize the investment, and ignore the role in the economic balance of consumption, economic growth, how to continue?
Capital have exited from the center of
In recent decades, economists have long since abandoned the factors at the center of the capital accumulation as a development point of view, they put more attention on other factors, such as education, technological change and the economic system structure.
Capital have exited from the center of the development thought. Study economic growth theory of Nobel laureates library kuznets, also through the middle of the 20th century 50 to 100 years of experience in data analysis found that in the modern growth, per capita national income of average annual growth rate of about 1.5%, including capital contribution to the per capita income is about 0.25%, the contribution of productivity is 1.3%. So he thinks.
http://mancodebook.com/ And early economic growth mainly depends on resources, especially the capital investment, as a significant characteristics of modern economic growth, high growth, the contribution of capital investment accounts for only a small part of the co., LTD. From the fact of modern economic growth, whether in the former Soviet union in the 60 s of the stagnation of the economic growth, and promote the Marshall plan in Europe after world war ii in the 70 s, lead to the stagnation of the economic growth, and people relish the end of the east Asian miracle, in fact have already proved that, completely dependent on capital investment, fake gucci belt economic growth cannot last.
Krugman and Lawrence lau, based on the research of the east Asian miracle has reached the same conclusion, if a country to improve the rate of investment, as the economy to a new steady state, the country will experience a period of rapid growth, but the increase of investment efficiency ultimately unsustainable, if not timely transformation, economic growth will eventually appear obvious reduction, created the miracle of countries and regions, east Asia, etc.
The road of reform and opening-up, Gucci Belt Replica economic growth is basically the replication such as Japan and Fake Gucci Belt east Asian development model, one is relying on high investment, high a depend on export. It should be said that the pattern replication quite successful, Gucci Belt Replica economy depends on investment and exports lasted for more than 30 years of high growth. However, since 2004, Gucci Belt Replica investment as a share of GDP by more than 40%, from 2003 to 2010, Gucci Belt Replica economic growth by an average of 54% from the contribution of investment.
