Allocation Models and their Use in Economic Planning (International Studies in Economics and Econometrics)

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Three different lines of approach have contributed to the theory of optimal planning. One approach considers the problem from the view-point of a national government and its adviser, the econometrician planning speci­ alist. The government can, if this is regarded as desirable, stimulate investment in certain directions and discourage other economic activities. By more than a few fiscal devices, it can influence both the total level and the distribution of investment funds over different sectors of production. Also, in many countries, a public agency plays some more or less coordinat­ ing role in the formulation of long-term plans for output by the enter­ prises sector; this may range from administrative direction in so-referred to as centrally planned economies, to persuasion and advice in ‘capitalist’ economies. Accordingly, the public planner wishes to know what dis­ tribution of the nation’s resources would be ‘optimal’. This ends up in the construction of more than a few models that could be described under the general heading ‘input-output type models’. This kind of model has been in large part developed by practitioners, among whom Sandee [B2] is one of the crucial outstanding and the earliest. A later, well-developed example of a model based on this approach is, as an example, the Czech model by Cerny et al. [Bl]. A second approach considers the problem from the point of view of the private entrepreneur and his adviser, the manager and financial accountant.

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