Capital deepening
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Capital deepening is a situation where the
sufficient
condition for economic development of a country.
Capital widening is the situation where the stock of capital is increasing at the same rate as the
labour force and the depreciation rate, thus the capital per worker ratio remains constant. The economy will expand in terms of aggregate output
, but productivity per worker will remain constant.
See also
References
- ISBN 0-13-063085-3.)
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