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 and agricultural and development plans / D. Gale Johnson, University of Chicago - Chicago - U.S.A.

Collection:: Economics Books

SEMAINE D'ÉTUDE SUR LE ROLE DE L ANALYSE ECONOMETRIQUE ETC, 1185 With the points made in pp. 37-38, I am in complete agreement We are rapidly promoting the use of fertilizers in India; we are also starting the manufacture of machinery to set up new fertilizer plants. But there is one point which has not been brought out, namely, the need of price support, or more precisely, having both floor and ceiling prices because consumers must also be protected. There should be buffer stocks and open market operations to the largest extent possible. In India, Government could hold 5 or 6 million tons of foodgrains in suitably located warehouses. There would be pre-determined floor prices which may vary for different crops in different areas; when the price touches the pre-determined low point in any area, Government would start purchasing immediately with a guarantee to continue without limit; this would give necessary price support to growers. On the other hand, once the ceiling price is touched, Government would start selling and this would protect the consumers. Such a system, I think is necessary in countries where there is a scarcity of food but not in countries like Thailand or Burma where there is a surplus. I think it would be of great help if the advanced countries would try to persuade an underde- veloped country to adopt the above policy (using if necessary United States PL 480 arrangements) to build up buffer stocks and have open-market operations with not too large a gap between the floor and ceiling prices so that speculators would not come in. This should be adequate; other methods of physical control may have to be used if the scarcity becomes very acute. I am amplifying the remedies but not really differing from Mr. JoHNSON. [ could not agree more with the statement on page 38, that there are many questions which are not now within the range of econo- metricians, or may be they can never be — I am leaving that question open; I am simply agreeing that they are now beyond the techniques which have been so far developed and which may be entirely suited to the needs of the advanced countries. There is a great danger of highly trained econometricians in my country going on solving problems which may be entirely valid in respect of ad- vanced countries but which have no relevance to the problems [16] Johnson - pag. 45

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