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CHAPTER 36 Economic Growth in Developing and Transitional Economies
Economic Development: Sources and Strategies
The Sources of Economic Development
Capital Formation
vicious-circle-of-poverty hypothesis Suggests
that poverty is self-perpetuating because poor
nations are unable to save and invest enough to
accumulate the capital stock that would help them
grow.
capital flight The tendency for both human
capital and financial capital to leave developing
countries in search of higher expected rates of
return elsewhere with less risk.
© 2009 Pearson Education, Inc. Publishing as Prentice Hall Principles of Economics 9e by Case, Fair and Oster
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