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Balanced growth


A particular form of growth process of the economy in which all the main economic aggregates - national income, consumption, the stock of capital, employment - grow at the same percentage rate over time. Although actual economies rarely if ever achieve such balanced growth paths, the analysis of such paths has played an important role in growth theory analogous to the role played in static economic theory by the concept of long-run static equilibrium.

Reference: The Penguin Business Dictionary, 3rd edt.