Virg There was a problem providing the content you requested In its simplest form, the savings-investment gap—of which one early, systematic exposi- tion can be found in Rosenstein-Rodan-states that the foreign resource requirements of a country to sustain a target rate of growth sould be measured by the difference between domestic sav- ings and the rate of investment necessitated by the growth-goal of the society. It may be mentioned that the shadow price is measured here by the increase in consumption due to an additional inflow of foreign resource. From the above, one can derive: Phase I ends when investment reaches the level adequate enough to sustain the target rate of growth. Chenery and MacEwan is a dynamic linear programming model which has as its object of study the optimal growth strategy for Pakistan. He assumed that total output Y, is a fixed-coefficient function of domestic nad foreign capitals— and Kf.
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Career[ edit ] He worked as a professor of economics at Stanford from to , as a Guggenheim fellow in and joined the United States Agency for International Development in , and rose to become an assistant administrator. In he became a professor of economics at Harvard.
Secretariat became the first horse in 25 years to win the American Triple Crown , with record-setting victories in the Kentucky Derby , the Preakness and the Belmont Stakes. He was played by Dylan Baker in the film Secretariat.
His major works include: Chenery, Hollis. Overcapacity and the acceleration principle. Interindustry economics. Chenery, Hollis. Patterns of industrial growth.
Comparative advantage and development policy. Foreign assistance and economic development. Studies in development planning. Chenery, Hollis; et al. Redistibution with growth: an approach to policy. Chenery, Hollis; Syrquin, R. Patterns of development, — A structuralist approach to development policy, Structural change and development policy. Interaction between theory and observation, world development.
Handbook of development economics. A: North-Holland Sole distributors for the U. ISBN Chenery, Hollis; Srinivasan, T.
Hollis B. Chenery
Career[ edit ] He worked as a professor of economics at Stanford from to , as a Guggenheim fellow in and joined the United States Agency for International Development in , and rose to become an assistant administrator. In he became a professor of economics at Harvard. Secretariat became the first horse in 25 years to win the American Triple Crown , with record-setting victories in the Kentucky Derby , the Preakness and the Belmont Stakes. He was played by Dylan Baker in the film Secretariat.
CHENERY AND STROUT 1966 PDF
Tell Next, turning to the multi-sector models, one can observe that they are rich in empirical content, and eschew the prdblems of ag- gregation bias as discernible in the aggregative models of Section II. They postulate that the level of import M trequired to sustain a given level of income at time t: But on the other hand, as absorptive capacity or marginal propensity to save increases, the shadow price of aid also seems to be increasing. There was a problem providing the content you requested Now intergrating, one gets: Since the literature in this area is enormous, we will make no attempt to quote and sum- marize all contributions but rather distinguish among different approaches-indicating their essential differences, and their possibilities and limitations—and attempt to illuminate how those research studies are linked with one another in terms of their analytical essence. This approach is based on the following set of assumptions: Such general equilibrium models were recently undertaken within a two-sector framework of the Chilean economy by Taylor and multi-sector framework of the Bangladesh economy by Quibria. As international evidence is accumulated, the belief he expressed there does not seem to be vindicated by facts.
Kigrel The policy implication that follows from the above is that a larger inflow of external resources in the early years decreases the total volume of aid needed to sustain the postulated growth targets. This diminishes the demand and consequently the price for the local currency depreciation. On this ground, the above condition is hard to fulfill empirically. Such a model can remedy most of the shortcomings inherent in the past modeling steout in this area and also accomodate a wide range of important features of reality—like nonlinearities of functions and different types of substitution possibilities. In the present section we shall focus our atten- tion cuenery the multi-sector planning models which tend to highlight the interactions between growth and external resource inflow. What are the characteristics of an economic model?