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.
