Low-income countries tend to have lower levels of human capital and physical capital, so an investment in capital deepening should have a larger _________ in these countries than in high-income countries, where levels of human and physical capital are already relatively high.

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13-07-2022
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Low-income countries tend to have lower levels of human capital and physical capital, so an investment in capital deepening should have a larger _________ in these countries than in high-income countries, where levels of human and physical capital are already relatively high.

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tutorconsortium201 tutorconsortium201 · Answer 1 · 2022-07-21T12:45:40+02:00

Low-income countries tend to have lower levels of human capital and physical capital, so an investment in capital deepening should have a larger marginal effect in these countries than in high-income countries, where levels of human and physical capital are already relatively high.

Because declining returns (especially to capital) are less pronounced than in capital-rich countries, developing countries have the ability to grow more quickly than industrialized ones.
Furthermore, developing nations' institutions, technologies, and manufacturing processes can be adopted by less developed nations.
The term "capital deepening" describes a rise in the amount of capital per worker, whether that be physical capital per worker or human capital per worker, such as increased education or skill levels.

What causes capital deepening?

An increase in the capital-labor ratio is referred to as capital deepening.
Either a rise in capital stock or a decline in the labor force might result in a higher capital-labor ratio.

Learn more about capital deepening

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