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

182 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 
7 = 
of the first two elements of the second column. This is the 
natural consequence of the necessity to start the development 
by reducing consumption at the beginning. It is of course not 
the Law of the Medes and the Persians that the period of suc- 
cessive decreases should last two years, since the process is 
subject to random fluctuations. Table 2 gives a survey of 
results and reveals that 2 years is about the average period 
during which consumption decreases. When there is little 
random variability (0.=0.005) the individual periods of decline 
are concentrated closely around this average; but for larger 
standard deviations there is also more variability of the decline 
periods, as could be expected. The category « other cases » 
refers to those in which the period of decline is interrupted 
by one or more years during which per capita consumption 
increases rather than decreases; e. g., decreases in the first two 
years followed by an increase in the third and a decrease in 
the fourth year. The signs of changes in the fifth year and later 
have been disregarded; they are negative in some isolated 
cases for o.=o0.02. 
Table 1 shows further that in the first decade the total log- 
arithmic increase of per capita consumption is 0.1611, which 
corresponds to a percentage increase of about 17. In the second 
decade it is much larger: 0.6757 corresponding to a percentage 
increase of almost 100. These increases, too, are subject to 
random variability. A survey of the quartiles of decade growth 
rates is presented in Table 3. The results show a gradual 
increase of these quartiles over time. Of course, the increase 
is not so regular in every individual case! This is illustrated 
by Table I, which indicates that in that case the decade growth 
rate decreases in the third and fourth decade. For the set of 
all data generated it appears that different values of o, do not 
lead to much difference as far as the median growth rates are 
concerned, but they do lead to important differences in dis- 
persion. 
“21 Theil - pag. 18
	        
Waiting...

Note to user

Dear user,

In response to current developments in the web technology used by the Goobi viewer, the software no longer supports your browser.

Please use one of the following browsers to display this page correctly.

Thank you.