31.   It would also stifle new capital formation.

32.   Migrant money, given the proper systems, can boost capital formation in the country, strengthen the financial markets and build infrastructures.

33.   Other non-revenue objectives which have caused tax reforms are promotion of capital formation and growth, redistribution of income and wealth and improved resource allocation.

34.   Public saving, if defined as above, is emphatically negative and accordingly does not record the availability of public resources for capital formation as ordinarily concluded.

35.   The academy noted that Mundell has also demonstrated that higher inflation can induce investors to lower cash balances in favor of increased real capital formation.

36.   The current classification of routine and development expenditures is ineffective since policymakers have to reclassify them again to know for instance the state contribution to capital formation.

37.   Its gross fixed capital formation and gross savings rates also topped those of the OECD countries.

38.   It stressed that broad action would be needed to increase labour market flexibility, including a widening of wage differentials to provide better incentives for human capital formation.

39.   The rate of capital formation in agriculture was a cause of concern and there was a need for an accelerated programme for irrigation, the minister said.