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An increase in productive capacity or an outward shift in the production possibilities frontiers (PPF).
Technological Progress
Neutral Technological Progress
x 100
Real GDP
Real GDP per person
Real GDP divided by the population. The contribution of real GDP growth to the change in the standard of living depends on the growth rate of real GDP per person.
Labor productivity =
Saving and Investment in Physical Capital Saving and investment in physical capital increase the
amount of capital per worker and this can increase labor productivity.
Balanced Growth
A proportional increase in the countrys endowments of factors of production such that the following ratios remain the same:
Capital to labor ratio; Land to labor ratio; and Land to capital ratio.
Balanced growth
results in neutral production, consumption and the volume-of-trade effects.
Anti-trade biased
growth cuts trade, yet brings gains to the country itself.
An upper-middle-income country, Kazakhstans per capita GDP was US$ 11,245 in 2011. In the past decade there has been a significant decrease in poverty rates, from 46.7% in 2001 to 6.5% in 2010. The gap between urban and rural living standards still remains - the poverty rate is under 5% in urban areas, while it is about 10% in rural locations. Overall, about 30% of the population receives some sort of social assistance.