Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Econometric analysis for assessing the efficacy of public investment / R. Dorman, Harvard University - Cambridge, Mass. - U.S.A.

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L ANALYSE ECONOMETRIOUE ETC. 213 of committees or of local administrators of public aid on what you have and how vou should spend the income: DORFMAN The two cases that I had in mind in introducing that motiva- tion were public housing and education. In both cases it is ge- nerally felt that there are very important external economies of consumption so that not only does the public want to provide those services to the lower income groups, but also it is the public will that the beneficiaries of such subsidies spend them on the goods that they are intended for and on no others. This is candidly a form of sumptuary legislation in which the community is consciously and explicitly substituting its judgment for the preferences of some of its consumers because it is felt that the community as a whole will benefit from the types of consumption that are being subsidized KOOPMANS [ should first confess that I have to apologize for having read only one half of the paper. However from the beautiful exposition that Mr. DorFMAN gave, I understood that his discussion was con- cerned with evaluating specific projects, one by one, so to say, or three at a time, and he described TINBERGEN’S proposal of an iterative procedure by which to get the optimizing quantities and their shadow prices in line. My question is, how does the rate of return itself, or if a different rate is applied to different parts of the future, how does the sequence of rates of return applicable to indi- vidual one-year periods in the future get determined? Is this also part of the iterative process of dialogue between the economic plan- ner and the political decision maker? If so, is that problem not of a higher order of complexity in the data requirements in that really all relevant projects, including those likely to be forthcoming from the private sector of the economy, enter also? A Dorfman - pag. 2;

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