13. Capital accumulation was a key factor in economic growth.

Aid was seen as contributing to capital accumulation (human, as well as physical).

The most crucial variable in this respect is the pace and pattern of capital accumulation.

(2) to withdraw 10 of the legal accumulation fund, and it is allowed to stop withdrawing the legal accumulation fund if its progressive total reaches 50 of the registered capital

Finally, the policies also contributed to growth by easing key macroeconomic constraints on capital accumulation, including particularly the balance of payments constraint on capital goods imports.

Deductions to capital accumulation pension funds amount to 10 of the monthly income for both women and men.

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.

Significantly, the reciprocity between government support and private sector performance entailed a faster rate of capital accumulation and growth.

The part retained in the enterprise out of the legal accumulation funds after converting into increased capital shall not be less than 25 of the registered capital before the conversion.

(f) Creating a socio economic environment that fosters accumulation of various kinds of capital throughout the course of life, including old age economic, environmental, social, human, cultural and spiritual capital.

In 1998, Kazakhstan became the first country in the CIS to begin a systematic transition to a capital accumulation pension system.

In the interplay of linkages that make up a virtuous growth regime, capital accumulation holds a central place in Africa, as elsewhere.

Combined with efforts to maintain a competitive exchange rate, this has led to considerable reserve accumulation, but also a concomitant capital outflow.

42. The workshop discussed issues relating to capital accumulation and trade, a critical assessment of policies and institutions, and issues in regional integration.

In the light of this, the Commission designed and implemented policies to strengthen domestic capabilities to generate financial resources for investment and capital accumulation.

Fifty years ago, development theorists focused almost exclusively on the objective of increasing GDP, with capital accumulation regarded as the main requirement for growth.

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.

28. Recent experience shows that reducing the balance of payments constraint is a necessary but not always sufficient condition for promoting capital accumulation and exports.

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

In Africa, as in other parts of the world, the debt problem and resource requirements are inextricably linked to the capacity for capital accumulation and growth.

As of 1 July 2004, there were 6,538,012 participants in the capital accumulation system, 2,976,880 of which were women, who constitute 45 of the total number of contributors.

Secondly, the overall rate of capital accumulation was raised as the result of forward and backward linkage effects that these favoured sectors generated for the rest of the economy.

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. Indeed, recent work in economic theory shows that capital controls can actually be the optimal policy choice.

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.

22. A number of factors account for the successful management of super normal profits in East Asian NIEs in accelerating capital accumulation and growth, compared with other developing countries that pursued similar policies.

Pursuing its comparative advantage strengthens a country s resilience to crisis and allows for the rapid accumulation of human and physical capital. Developing countries with such characteristics are able to turn factor endowments from relatively labor or resource abundant to relatively capital abundant in the span of a generation.

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.

As of the present time, however, not only is development viewed from a broader vantage point, but it is generally recognized that capital accumulation is a necessary, but far from sufficient, condition for growth.

in the event of an accumulation of anomalies

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.

This has been a major factor in recent currency and financial crises, with serious negative impacts on macroeconomic stability that has reduced flexibility for macroeconomic policies and produced adverse effects on capital accumulation and growth.

At the ninth session of UNCTAD, Governments recognized that development had evolved from a narrow focus on economic growth and capital accumulation to a multidimensional process, with the ultimate goal of bettering the human condition.

What grabbed headlines was that the IMF now believes that countries could even use capital controls, renamed capital flow management measures, if implemented alongside monetary and fiscal measures, accumulation of foreign exchange reserves, and macroprudential financial regulations. Even under such circumstances, CFMMs should generally not discriminate on the basis of currency.

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.

In order to achieve a sustainable growth pattern, it was necessary to meet certain preconditions, such as a high level infrastructure, good access to foreign markets, relatively high levels of capital accumulation and adequate technical capabilities.

Firstly, in promoting investment in industries with greater potential for learning, scale economies and productivity growth, the policies served to raise the average rate of return on investment, and hence total profits, thereby stimulating capital accumulation.

The second point is about the accumulation of tiny actions.

Managing growth Accumulation and structural change in an interdependent world

By contrast, the countries in East and South Asia that bucked this trend in the 1980s were able to maintain a fast and reasonably stable pace of capital accumulation for most of the 1990s (UNCTAD, 2003 65 73).

To be sure, capital accumulation is a driving force of economic growth, and catching up with developed country income levels implies that China must increase its capital stock in the long run. But what is at issue is not the size of the capital stock, or even the level of investment the problem is the growth rate of investment, which has been significantly higher than that of GDP for decades.

China is also losing long term growth momentum, as falling fertility rates and returns on investment weaken labor force expansion and capital accumulation. And it is becoming increasingly difficult for China to take advantage of technology driven productivity gains.

3 Remittances play a crucial role in the economy of recipient countries, since they provide for a stable source of financing, bring foreign exchange with no liabilities and complement national savings, thereby constituting an important basis for capital accumulation.

Problems arising from the accumulation of conventional ammunition stockpiles in surplus

This accumulation represented a diversion of national resources from national development.