Countries can force up economic growth rates (actual the growth rate of economic activity) simply by mobilizing savings and forcing up investment rates, but ultimately their inability to absorb continuously the higher levels of capital mean that they can not push real wealth per capita beyond some fairly hard constraint represented by their institutional inability to absorb investment. (carnegieendowment.org)
That capacity is especially important as China's environmental efforts have gradually shifted from guidance to hard constraints, such as an emissions cap and trade regime, Song says. (sciencemag.org)
In one sense, it freed bond management, because rather than hard constraints, they matched credit and interest rate sensitivities of the index. (alephblog.com)