Russia is an example of EXTENSIVE economic growth because they placed more factors into production, more human capital, more machinery, more land, causing capital deepening, but ultimatley failing, in part b/c they had no more people to put into production, this caused TFP stagnation and ultimatley the stop of economic growth in 1989, and then the collapse of the SU two years later. How is china the opposite example and an example of INTENSIVE growth.
2007-03-19
08:27:24
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1 answers
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Anonymous