Every country has to plan for its economical
development.
It is required to be done, in a continuous, systematic and successful manner. For framing and implementation of plans for economic development, by the national planners and decision makers, use of Statistical concepts and
techniques is very helpful, and important. In nineteen Chapters, this book broadly presents, the theoretical foundations of Statistical concepts and techniques, development of models, region wise balanced growth, role of administration in rapid development, strategies for optimal utilization of scarce resources, economic analysis, uncertainty and decision making, finance and national income etc. In one of the important Chapters of this book, the authors have presented in its nine sections, a survey of the development models, which provide the guidelines to the planners. After the section 1 and 2 state the general concepts, and the characteristics and limitations of developing countries, section 3 discusses Harrod-Domar model of economic development, and its modifications e.g. the Solow’s model. It also gives the basic relations, which may be used for target setting, limits to parameters, characteristics and policy implications of the model. Section 4 discusses the two-sector models. This includes export vs. home market sectors (Ichimura) model; agricultural vs. industrial sectors with foreign trade (Ichimura) model; capital goods and consumer goods sectors (Mahalanobis) model; an empirical study of the two-sector model (CM Palvia). It further discusses here, the assumptions, political parameters, target variables and instrument variables etc. Section 5 takes up multisectoral models of growth, which include a multisectoral model of growth (Dhrymes), and Johansen’s multisectoral study of economic growth. Section 6 discusses regional growth models, which include a model of regional development for southern Italy (Chenery) and Tinbergen’s multi-regional multi-sectoral dynamic input-output open model. Section 7 talks about input-output and activity analyses, which include a static input-output model (Ichimura); dynamic input-output system; multi-regional and multi-sectoral dynamic input-output open model for the medium term (Tinbergen) and short-term planning model for India (Narasimhan). Section 8 discusses the programming techniques, which include Linear programming model (Ichimura); nonlinear programming model (Ichimura); and a spatial and dynamic model of economic growth (Berman). Section 9 discusses planning under uncertainty, and presents, decision model for static uncertainty (Holt); decision model under dynamic uncertainty. As per conclusion to the Chapter, the study of these models and their applications, have definitely contributed to our knowledge, for better attending to the economic and development problems, for ultimate benefits to the human beings.
This book attempts to meet the professional, administrative and academic needs, and develop the competence, of the new and experienced officers, and other executives of the Government departments, Public sector undertakings etc. by presenting the various topics in a proper order. It provides number of formulae, examples, models, their analysis and references, along with a proper treatment of the subject. This book is useful for managers, executives, administrators, directors and students of
management.