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MFI-Ch1a(Ec Growth & Fin Inst)

MFI-Ch1a(Ec Growth & Fin Inst)

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Published by: api-3716588 on Oct 18, 2008
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05/09/2014

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8/30/20071
8/30/20072
\ue000Economic Growth implies a long term rise in per
capita national output.
\ue000Increase in output in developed countries has been

associated with radical changes in production techniques and organisations, in the institutional setup and in the socio cultural and psychological environment and attitudes of the people.

\ue000During the growth process there has invariably been

a shift of population from agricultural and other primary producing sectors to the industrial sector and an increase in capital labour ratio and a more than proportionate increase in labour output ratio.

8/30/20073
\ue000Capital formation implies the diversion of the

productive capacity of the economy to the
making of capital goods which increases future
productive capacity.

\ue000Process of capital formation involves three
distinct but independent activities:

\ue000Savings
\ue000Finance
\ue000Investment

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