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. 118C another to the extent that they are based on different assumptions about the future. To convince me, one ought to prove that such nconsistencies have no detrimental consequences. In line with Professor MAHALANOBIS, I should add that I do not like much the expression « to supplant the operation of the mar- Ket » because it implies more than it really says. Most people would agree that we have not to supplant the operation of the market if the market operates well. The only question is to know whether it does operate for the long-term allocation of resources. Are long- term decisions in agriculture enlightened by the operation of the market? So far as I know, they are not. Nowhere in the market process will an individual banker who considers making a loan to a farmer, find when the hybrid corn will reach the 80% level of diffusion, or what the price of corn will be in five vears from now. JOHNSON There is no question that some of the remarks in the last three or four pages are quite cryptic and perhaps warranted more detailed exposition. My excuse is that I thought the paper was already too long. I would like to explain and — in some degree — defend the position that I took with respect to the usefulness of agricultural projections and that such projections do not now « possess the ne- cessary degree of accuracy to make it feasible to rely upon detailed planning procedures which largely supplant the operation of the market ». Both Prof. MAHALANOBIS and Prof. MALINVAUD were somewhat concerned about that statement. What I meant by « detailed planning procedures » were quan- ity allocations, of inputs or outputs, or price determinations by sovernments that effectively determine the prices that affect pro- ducer and consumer decisions. Obviously, there are a variety of nterventions — planning — where I feel that we know enough. to rely on governmental actions; these are listed in the paragraph ‘ollowing the sentence that has elicited these reactions. I there refer "161 Johnson - pag. 49

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