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单词 capital-output ratio
释义

Capital-Output Ratio


Capital-Output Ratio

 

the value of fixed production assets per unit of output. In socialist economies, the capital-output ratio is used in economic analysis and in formulating production and capital construction plans for the national economy as a whole and for individual sectors and enterprises (associations). Data on the gross social product and the produced national income can be used to analyze the capital-output ratio of the national economy, while data on gross (market) or net output can be used to analyze the ratios of individual sectors.

A distinction is made between the direct and the full capital-output ratio. The direct ratio is calculated as the ratio of the fixed assets of a given sector to that sector’s output in monetary terms. The full capital-output ratio takes into account not only the fixed assets that are directly involved in the output of a sector but also the assets functioning in sectors that figure indirectly in production. Coefficients of the full capital-output ratio were calculated for the first time during the preparation of the intersectorial balance sheet for 1966 of the national economy’s fixed capital stock. The relationship between the full and direct capital-output ratios varies from sector to sector; it is determined by the nature of production and of intersectorial relations. The direct capital-output ratio is inversely proportional to capital productivity.

L. E. BABASHKIN

capital-output ratio


capital-output ratio

a measure of how much additional CAPITAL is required to produce each extra unit of OUTPUT, or, put the other way round, the amount of extra output produced by each unit of added capital. The capital-output ratio indicates how ‘efficient’ new INVESTMENT is in contributing to ECONOMIC GROWTH. Assuming, for example, a 4:1 capital-output ratio, each four units of extra investment enables national output to grow by one unit. If the capital-output ratio is 2:1, however, then each two units of extra investment expands national income by one unit. See CAPITAL ACCUMULATION, PRODUCTIVITY.

See also SOLOW ECONOMIC-GROWTH MODEL.

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更新时间:2024/12/23 22:45:04