L' economia italiana dal 1919 al 1929

Study week on the econometric approach to development planning

Bibliographic data

Monograph

Identifikator:: 1831005247

URN:: urn:nbn:de:zbw-retromon-221436

Document type:: Monograph

Title:: L' economia italiana dal 1919 al 1929

Place of publication:: Roma

Publisher:: Amministrazione Presso la Rivista Internazionale "Metron", Istituto di Statistica della R. Università

Year of publication:: 1930

Scope:: XXII, 165 Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Tavole statistiche degli indici del movimento economico italiano dal 1919 al 1929

Collection:: Economics Books

216 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA or for countries with even a smaller population of two millions or so, whether it would be advisable to set up a steel mill and this also in an extreme case when domestic resources of iron or coal are not available. I am giving this particular example to widen the scope of the discussion. [ am in agreement with the use of shadow price in principle. There is however great difficulty in practice in isolating one project from another. It seems to me that it is often necessary in making practical decisions in a country like India, to focus attention not only on the project but also to consider the external economies at a national level. The time factor also seems to me to be extremely important, that is, the span of time over which the benefits would accrue. An interesting case which I analysed several years ago was the choice in India between importing foodgrains, or importing fer- tilisers, or manufacturing fertilisers with imported machinery, or finally, building machinery in India for the manufacture of fertili- sers. The answer would depend essentially on the time horizon. The really important point which I should have stated earlier, 's where do you want to go and when? We, have to set up certain targets at the national level which have to be achieved over a cer- tain time period, in I0 years or in I5 years or in 20 years. Without such targets and the time period over which these have to be realised, I doubt whether shadow prices would be useful. Firstly, a set of target at the national level and secondly a given time period over which these have to be achieved have to be supplied for opti- mization. DORFMAN I think Professor MAHALANOBIS is raising two distinguishable questions here. The question of the steel plant is not a particularly difficult one. A steel plant may have some external economies, in particular the educational consequences of helping to train a labor force which is skilled in working with ferrous metals. A steel plant 3] Dorfman - pag. 30

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