World Fund Awards are not accumulable from year to year and cannot be donated to another district. |
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In an overlapping-generations model that represents a small open economy, where agents live two periods, liquidity constraints lead to low economic development when the only accumulable factor is human capital. |
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This offer is not accumulable with other offers. |
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This conclusion is based on evidence that relies exclusively on models without an accumulable factor of production. |
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