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take-off


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A stage of economic development at which an economy becomes capable of sustained growth in per capita income. An economy which has not reached take-off has saving and investment inadequate to do more than keep pace with population increase at low and stagnant levels of per capita income. Take-off requires sufficient saving for investment in infrastructure and productive equipment, as well as adequate credit and banking systems, and institutions capable of providing education and public order.

Subjects: Economics — Sociology.


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