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In macroeconomics, the balanced-growth path of a dynamic model is a trajectory such that all variables grow at a constant rate. In the standard exogenous growth model, balanced growth is a basic assumption, while other variables like the capital stock, real GDP, and output per worker are growing. Developing economies may adopt a strategy of unbalanced growth to rectify previous investment decisions, as put forward by economist Albert O. Hirschman.

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  • In macroeconomics, the balanced-growth path of a dynamic model is a trajectory such that all variables grow at a constant rate. In the standard exogenous growth model, balanced growth is a basic assumption, while other variables like the capital stock, real GDP, and output per worker are growing. Developing economies may adopt a strategy of unbalanced growth to rectify previous investment decisions, as put forward by economist Albert O. Hirschman. In microbiology, the state of balanced-growth means "every extensive property of the growing system increases by the same factor over a time interval". It is ideal for performing experiments because all bacteria are at about the same state (as opposed to stationary phase, for example, where some cells are alive and others are dead). Machines like chemostats can be used to culture bacteria and keep them in a state of balanced-growth for long-term experiments. Balance Growth refers to a specific type of economic growth that is sustainable in the long term. Balance Growth is opposed to the boom and bust nature of economic cycles. According to Alak Ghosh, " Planning with balanced growth indicates that all sectors of the economy will expand in same proportion, so that consumption, investment and income will grow at the same rates. It stresses that the balanced growth can occur when the growth rates of the consumption, investment and income are equal to each other". According to W. A. Lewis," In dvelopment programmes, all sectors of economy should grow simultaneously so as to keep a proper balance between industry and agriculture and between production for home consumption and. Production for exports. The truth is that all sectors should be expanded simultaneously. (en)
  • 균형성장(均衡成長)이란 시장에서 수요와 공급을 일치시키는 제력(諸力)이 작용할 때 이와 같은 성장 경로를 말한다. 이것은 경제성장이론에 있어서는 균형이 성립하기 위한 소득의 필요 성장률, 또는 그것이 실현된다면 균형이 보장된다고 하는 의미에서의 균형성장률을 나타내는 것이다. 이 문서에는 다음커뮤니케이션(현 카카오)에서 GFDL 또는 CC-SA 라이선스로 배포한 글로벌 세계대백과사전의 내용을 기초로 작성된 글이 포함되어 있습니다. (ko)
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  • 균형성장(均衡成長)이란 시장에서 수요와 공급을 일치시키는 제력(諸力)이 작용할 때 이와 같은 성장 경로를 말한다. 이것은 경제성장이론에 있어서는 균형이 성립하기 위한 소득의 필요 성장률, 또는 그것이 실현된다면 균형이 보장된다고 하는 의미에서의 균형성장률을 나타내는 것이다. 이 문서에는 다음커뮤니케이션(현 카카오)에서 GFDL 또는 CC-SA 라이선스로 배포한 글로벌 세계대백과사전의 내용을 기초로 작성된 글이 포함되어 있습니다. (ko)
  • In macroeconomics, the balanced-growth path of a dynamic model is a trajectory such that all variables grow at a constant rate. In the standard exogenous growth model, balanced growth is a basic assumption, while other variables like the capital stock, real GDP, and output per worker are growing. Developing economies may adopt a strategy of unbalanced growth to rectify previous investment decisions, as put forward by economist Albert O. Hirschman. (en)
rdfs:label
  • Balanced-growth equilibrium (en)
  • 균형성장 (ko)
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