问题如下:
4. Based upon Exhibit 1, which Indian economic statistic least likely supports Kanté’s international equity allocation preference?
选项:
A.GDP per capita
B.Growth due to labor productivity
C.Growth due to capital deepening
解释:
A is correct.
Kanté’s decision to invest in equities in India is supported by the country’s strong economic growth. For global investors, economic growth is important since equity composite valuations depend to a great extent on both the level of economic output (GDP per capita and GDP overall) and on the rate of economic growth. Relative to Brazil, the growth rate in per capita GDP has been much higher, and furthermore, the growth rate in GDP has also been much higher than that of Brazil. In contrast to the growth rate, the relatively low level of GDP per capita in India is less likely to indicate attractive equity investment opportunities. Low per capita GDP suggests that India may lack sufficient industrial and financial infrastructure to support some types of industries. It also indicates that domestic purchasing power is relatively limited, decreasing the potential for higher-margin, domestically-oriented businesses.
考点:影响一国的经济增长的因素。
解析:
投资人更愿意投资印度权益市场,那就表明印度GDP发展的更好,能为投资者带来更多的投资回报。
从表格数据来看,印度的人均GDP低于巴西,但从这点来看,印度发展不如巴西,因为较低的人均GDP意味着印度缺乏完善的工业基础以及金融机构去支持经济发展,并且较低人均GDP还限制了该国人均消费水平。所以A选项入选,这是不支持投资印度的理由。
而无论是生产效率对于经济增长的贡献还是资本深化对于经济增长的贡献,印度都大于巴西,所以B,C选项不入选。
GDP per capita这个就是人均GDP对吗?这个和output per worker(labor productivity)有什么区别?应该是一样的吧?