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Authors
Affiliations
1 Department of Economics, University of Bombay, Bombay-400098, IN
Source
Journal of Indian School of Political Economy, Vol 6, No 2 (1994), Pagination: 197-256
Abstract
This paper amounts to a comprehensive evaluation of Indian planning models and alternative design structures with special reference to their theoretical foundations and technical implications. It reviews the evolutionary changes that have taken place in the systems approach to macroeconomic modelling of the Indian economy over the last forty years. Considering that models have been used both at the official level, for planning purposes, as well as at the academic level, for providing inputs to the planning process, the paper covers both these aspects in a thematic manner. Commencing from the initial official efforts with their emphasis on designing aggregate growth models through the intermediate phases of developing consistency models and finally to the current academic interest in optimizing and non-optimizing systems, this evolution is primarily considered against the backdrop of the changing perspectives vis-a-vis economic problems, development strategies and policy choices.
