77 percent annually, and even capital accumulation
suffered due to the dearth of investment, growing at only 0.
However, the World Bank sees a slowing pace of capital accumulation
reducing potential growth in the East Asia and Pacific region.
The authors agree that cash building by saving allows for capital accumulation
and economic growth, and that its effects are similar to those of a direct investment of savings.
But in both scenarios we see that sports spectacles have emerged as key sites of capital accumulation
in which the hyperexploitation of racialized unfree labour, a condition maintained by the state through law, generates massive profits for the few and little reward for the many.
As Keynes' biographer, Robert Skidelsky, recently said, "I think [Keynes] recognized intellectually, in order for capital accumulation
to go on, you have to have a high savings rate.
The positive connection between social capital and human capital accumulation
was first described in Coleman (1988) and in Teachman et al.
This is because investment generally falls during an economic contraction, which slows down capital accumulation
and reduces the growth rate of potential GDP.
The overseas schooling choice as a spatial strategy of capital accumulation
has recently attracted scholarly attention (Findlay et al 2012; Ong 1999; Waters 2005, 2006; Brooks and Waters 2011).
Using a standard development accounting framework, we show that the growth episode is mainly accounted for by an increase in capital accumulation
and knowledge transfer associated with the foreign direct investment in the booming oil industry.
Commonly used by economists, MFP is the technology component of productivity growth and is computed residually; that is, MFP is the productivity growth remaining after subtracting the effect of capital accumulation
(both human and physical capital) from labour productivity growth.
But, since the growth model in vogue at the time laid principal emphasis on capital accumulation
, China was widely held to have the advantage, because it could raise its investment rate higher than India, where democracy limited the extent to which the population could be taxed to increase domestic savings.
and economic growth also are crucial in determining aggregate welfare.