Serbo-Croat translation: neproizvodne delatnosti, neutrziva dobra
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English to Serbo-Croat translations [PRO] Bus/Financial - Economics
English term or phrase:non-tradeables
Low annual inflation, at rates of 2 per cent to 3 per cent, is not easy to achieve in economies that are catching up, where income per capita is 5 to 10 times lower than the average EU figure (in PPP terms). In more rapidly growing economies, demand pressures collide with disinflation. This can also happen because prices of domestic services (non-tradeables) go up unabatedly -- the so called Balassa-Samuelson effect. As in Central and Eastern Europe, the Balkan economies have grown by more than 5 per cent on average in recent years. It is fair to acknowledge, however, that sustained growth asks for more fixed capital formation and human capital investment.