Full text: Study week on the econometric approach to development planning

SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 
J 
share of domestic production in the total supply of a competitive 
product: then in place of (IV. 24) we have 
{ 
‘IV. 
28 
) p 
Wp + (1-0) p3} + à p5 + À 
ATTA RY pt + dup) 
+, 
a 
The account just given of the treatment of foreign trade is 
only one of three variants proposed in [7]. All three, however, 
are highly simplified because they represent an attempt to do 
without foreign trading functions, on which foreign trade may 
be supposed to depend. The establishment of such trading 
functions is quite beyond our present scope; in time, however, 
a co-operative venture may make it possible to extend the model 
in this way. Looking forward to that time, the following sketch 
may indicate the kind of information needed. 
Let us begin by rewriting (IV. 27) to indicate a separate 
flow equation for complementary imports, and let us now define 
these imports as goods which cannot be produced domestically 
Then we can write 
(IV. 20, 
Most of the symbols in (IV. 29) have already been definea 
The new ones are: m*,, the elements of which are the comple 
mentary imports flowing directlv into final demand: ana A* 
11 Stone - pag. 55
	        
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