Sustained economic growth requires, everywhere, the accumulation of physical and human capital, as well as the acquisition of technological capabilities.

Pursuing its comparative advantage strengthens a country s resilience to crisis and allows for the rapid accumulation of human and physical capital.

Accumulation of capital shapes the social system.

In the long run, trade's positive influence comes through the utilization and upgrading of productive capacities, innovation and accumulation of physical, human and organizational capital.

In addition, the physical capital loss is estimated to be around 3.5 billion, as a result of destruction of private and public infrastructure and capital stock and overuse of surviving physical capital.

In many developing countries, IPAs do not pay adequate attention to the potential for attracting FDI that could contribute to knowledge accumulation but focus rather on capital accumulation in tangible assets.

It undertook reserve accumulation in the late 1990 s as a form of self insurance against capital flight.

As the accumulation and deepening of capital accelerate growth, they perpetuate the low efficiency investment pattern and stimulate overproduction.

That means that China is beginning to rejoin the human race as capital accumulation meets scarcer labor and growth slows.

We economists were by and large capital boosters, and our magic formula for economic development was saving, investment, thrift, and wealth accumulation.

They have acted as gateways connecting South Asia to the developed world, and have benefited from globalization, education, capital accumulation, and technological advancement.

The sustainable livelihood framework (SLF) proposed in the project document as a tool for analysing the success of the project is based on the following set of broad success indicators natural capital, physical capital, social capital, human capital and financial capital.

By 2012, human capital s contribution to China s GDP growth fell almost to zero, with fixed capital accumulation accounting for roughly 60 of total growth.

Indeed, while China s overall capital stock is by no means small, capital structure and maturity mismatches have led to the accumulation of massive volumes of non performing assets, undermining China s economic stability and financial efficiency.

Adam Smith focused on the role of enlightened self interest (the invisible hand ) and the role of specialization in promoting the efficiency of capital accumulation.

At present, the accumulation of wealth is accompanied by the accumulation of poverty.

It requires an industrialization drive, accompanied by the steady accumulation of human capital and institutional capabilities to sustain services driven growth once industrialization reaches its limits.

This obvious externality required policy responses in the emerging countries limits on capital inflows, reserve accumulation, and measures to restrict credit and restrain asset price inflation.

Thus, the IMF s recommendation to use capital controls only after exhausting interest rate adjustment, reserve accumulation, and prudential regulation is out of step with the profession.

Standard growth theory predicts convergence of per capita GDP a fast growing country will eventually encounter difficulty maintaining high rates of labor mobilization, capital accumulation, and technological progress.

Traditional growth theories focus on systematic forces for example, capital accumulation, employment, and technical change that, by definition, operate all the time, although with varying degrees of intensity.

India can continue to thrive if it invests in physical and human capital and pursues prudent fiscal and monetary policies.

The economic and physical capital costs to the Palestinian economy of the past five years of hostilities continue to mount.

To stop this accumulation of foreign exchange reserves, and thus minimize China s welfare and capital losses, the simplest solution would be for the PBOC to call a halt to intervention.

Europe s talents and resources its physical, human, and natural capital are the same today as they were before the crisis began.

As emerging market economies shift to higher value added components in global supply chains, their physical, human, and institutional capital deepen.

Poor regions have a low base of economic activity to tax, which prevents them from investing in human and physical capital.

To manage exorbitant demand for financial and physical assets, China s leaders must address its root cause the low cost of capital.

On the supply side of the economy, the state can invest or coinvest with the private sector in physical capital (infrastructure), institutions, human capital, and the knowledge and technology underpinnings of the economy.

The country will inevitably become poorer as it depletes its natural resources, unless the value of its human and physical capital increases.

Similarly, sustainable, long term capital flows, particularly greenfield FDI, are primarily attracted to countries that have already achieved rapid economic growth and steady improvements in human and physical infrastructure Thus, for those with a robust investment dynamic in both physical and human capital, trade and FDI can reinforce an established virtuous growth circle.

That said, in the interplay of linkages making up a virtuous growth regime, capital accumulation seems to provide one important link from launching an industrial take off to sustaining catch up growth.

But in any discussion of the forces governing the process of capital accumulation, the manner in which the richest stratum of society acquires and uses its income appears to be of particular significance.

Government educates and invests, increasing the supply and reducing the premium earned by skilled workers, and lowering the rate of return on physical capital.

Regulations should also have a strong counter cyclical focus, preventing excessive accumulation of leverage and increasing capital and provisions (reserves) during booms, as well as preventing asset price bubbles from feeding into credit expansion.

A factor worthy of note is that developing economies in the ESCAP region have become net exporters of capital as persistent current account surpluses in some countries combined with a sharp increase in net private capital flows have been reflected primarily in the substantial accumulation of official reserves.

According to the new regulations, SAFE will issue a warning ten days after finding that a firm s capital flows do not match its physical shipments.

For example, demand for investment goods may rebound, especially in certain hard hit sectors, after a recession has caused physical capital to become technologically obsolete.

It is deficit reduction, not debt, that is profligate, because it implies wastage of available human and physical capital, quite apart from the resulting misery.

While that growth pattern is fragile, if physical capital formation is insufficient, the economies of Egypt and Jordan are expected to expand further in 2005.

The result is the accumulation of innovative capital and productive labour in the most developed countries, with a corresponding impoverishment of countries most in need of those resources, generating yet greater divergence and more inequalities.

When economists, again with their dry jargon, talk about a country s human capital, what they really mean is the cognitive and physical abilities of its people.

Abolishing the NEP, it was the first of a number of plans aimed at swift accumulation of capital resources through the buildup of heavy industry, the collectivization of agriculture, and the restricted manufacture of consumer goods.

In many cases, a combination of capital outflows, profit remittances and the accumulation of exchange reserves greatly reduced net inflows, and of these a growing proportion was absorbed by activities which added little to productive capacity.

Similar motives dictate reserve accumulation in other emerging markets.