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Artha Vijnana: Journal of The Gokhale Institute of Politics and Economics, Vol 10, No 1 (1968), Pagination: 1-10
Abstract
In the present article, we consider an open economy in a developing stage, which has most of its imports of the capital goods type, and which has undergone a devaluation of currency following a chronic balance of payments deficit. Retaining full employment along HACSR and balanced growth as the long-run objectives, we analyze the efficiency of investment allocation and relative price stability in bringing about balanced growth and balance of payments equilibrium.