Capital fundamentalism, economic development, and economic growth
This paper critically evaluates the roles of investment and physical capital accumulation in economic growth and development. Should a modern version of capital fundamentalism — where capital and investment are viewed as the primary determinants of economic development and long-run growth - guide ou...
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| Veröffentlicht in: | Carnegie-Rochester conference series on public policy 1994-06, Vol.40 (1), p.259-292 |
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| Hauptverfasser: | , |
| Format: | Artikel |
| Sprache: | eng |
| Online-Zugang: | Volltext |
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| Zusammenfassung: | This paper critically evaluates the roles of investment and physical capital accumulation in economic growth and development. Should a modern version of capital fundamentalism — where capital and investment are viewed as the primary determinants of economic development and long-run growth - guide our research and policy advice? Our analysis suggests that the answer is “no.” Capital accumulation seems to be part of the process of economic development and growth, not the igniting source. |
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| ISSN: | 0167-2231 1879-1328 |
| DOI: | 10.1016/0167-2231(94)90011-6 |