Income Velocity and Pakistan's Second Plan

Richard Porter
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Richard Porter: Institute of Development Economics.

The Pakistan Development Review, 1961, vol. 1, issue 1, 22-51

Abstract: An attempt is made in this paper to appraise the extent to which the income velocity concepti is a useful tool in the financial planning of the Second Five Year Plan. For many years now, economists have been skeptical of the efficacy of velocity analysis, but most of this skepticism derives from its disastrous failure in the depr~ssion of the 1930s. Theorists generally concede its applicabilIty in full-capacity situations2, and it is in just such a situation that it is being applied in current analyses of the financial implications of Pakistan's Second Plan.

Date: 1961
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