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:: The analysis of economic systems / Richard Stone, Cambridge University - Cambridge - Great Britain

Collection:: Economics Books

SEMAINE D'ETUDE SUR LE ROLE DE L ANALYSE ECONOMETRIQUE ETC. _ West, or of the East, or of the Developing countries; these areas are defined in fact in terms of political tensions and interrelations which also are shifting over time. This band (points out something on blackboard) is the relation between East and West, and there is the Developing countries; so, the world system would consist of W, E and D and their interrelations. To some extent, Professor LEONTIEF has taken this into account in his paper in calculating what should go from either W or E to D. We thus have a kind of world system of W, E, and D. Then we have to consider also the national system of each particular country. In model making, there will continually be the need to think of the different national systems as constituent elements of the world system. However, there would be need of delimiting the sphere of ‘nterest according to the purpose in view. We may have to consider a particular national system or a particular sector or groups of sectors within a national system. A nation or a country is, however, not the only basis of delimiting the sphere of interest. There will be many other ways of delimiting the system, for example, in external trade we have bilateral or multilateral systems. It seems to me that it would be a good step forward to have an agreed terminology in this whole business of model making. The two concepts « macro » and « micro » require to be arranged in some kind of a logical system of hierarchy involving dimensions in space, in terms of economic sectors, and also of time. It would be then possible to view the micro-models at different levels fitting into a macro-model at a higher level, and then these macro-models fitting into wider macro- models at still higher levels until the global world system is reached. Going back to my first point, if I have understood Professor STONE correctly, there would be need of taking into consideration experience or results of experiments to assess the validity of the model « M » in respect of the system of observations « O », and finally in relation to the world of reality « R ». When we speak of experience it would, I think, be of great help to keep in mind that a model developed in one country, on the basis of experience of that country, it may be verified or experimented upon, or modified in 11 Stone - pag. So

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