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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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: On the concept of optimal economic growth / Tjalling C. Koopmans, Cowles Foundation for research in Econimics at Yale University New Haven, Conn. - U.S.A.

Collection:: Economics Books

ic 2 ; whl ne c = QO RA oo NY & x ot > Nn ho oD il ye le e)) = ™ - ori - Cy A — oo o wn oo CQ) Q NY © al 0 FJ 0 oir > oy CONTINUOUS BORROWING 239 ctivity of the overseas debt. The increase in the per: te of the disposable income necessary to pay the annual sas interest charge is the most serious aspect of the situa- While the analysis does not indicate that the proportion + disposable income which is used to hire capital is un- high, since production itself rose during the period by 32 :nt., it does indicate the real crux of the external debt ion. jecond point established by Dyason has reference to the sve proportion of external debt to production in the pre- nd post-war periods. It must again be emphasized that Tare LVI External Interest and Productivity per Head ] Annual average production of export sommodities per head of pre-war nrice-level. External interest charge per head at pre-war price-level. Average annual production of export com- modities. Mean population. { Millions.) Interest on the eacternal debt. a. to to 7 - 146 | 4657 5.090 30-3 7.119 1:6 82:3 18-455 | 2.77 Increase per cent. 6-6 68-0 alue of total production does not seem 80 important for this ose as the value of the production of export commodities. ould appear to be necessary to compare pre-war and post- nterest and disposable income at a common price-level. The ire then assumes a somewhat different complexion, for it ident that, while the annual average production per head tport commodities increased by. 6-6 per cent., the external est charge had increased by 68 per cent., or more than ten 3 as fast. -y a further comparison of annual indebtedness due to owing with the estimated annual savings, Dyason arrives at final decision that Australia is living well within her income. iittedly this may be true, although the estimate of national 7; ngs made by Sutcliffe upon which he bases his judgement + pins the most conjectural and the least satisfactory aspect 4 Q cn =. = x on = 0) wo XT pot

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