CONSUMER GOODS OR CAPITAL GOODS-SUPPLY CONSISTENCY IN DEVELOPMENT PLANNING A COMMENT

Gary Hufbauer

The Pakistan Development Review, 1968, vol. 8, issue 1, 104-110

Abstract: Everyone who has heard of Harrod-Domar realises that growth targets imply something about savings rates. But growth targets also imply something about the availability of capital goods. The business of economic planning, as y--Winston points out [1], is to ensure compatibility between the Harrod-Domar and the Mahalanobis constraints. If domestic savings exceed the availability of domestic plus foreign capital goods, two '.'despised alternatives" confront the economy. inventory accumulation or slower growth. To avoid this unhappy predicament, Winston outlines three remedial policies.

Date: 1968
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