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Capital Formation
The process of accumulating assets and investments that are used for future production or economic growth.
World Bank
An international monetary organization granting loans and finances to governments of less affluent countries for capital project undertakings.
Developing Nations
Countries with lower levels of industrialization, lower standards of living, and lower Human Development Index (HDI) scores compared to more developed countries.
Labor Productivity
The output of goods and services produced per unit of labor input, often used as an indicator of economic efficiency.
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