 Developmment aceleration - a practical methodologyMPRA Paper from University Library of Munich, Germany Abstract: The prime Economic classification of the nations are "Developed/ Developing/ Under developed". In the history, we are yet to see a country in the developing/under-developed category, moving towards a developed status. This was correctly questioned by the Nobel Laureate in Economics (1979), Arthur Lewis (1915-1991) as “Is the dependence of the developing world growth on that of the developed - world inevitable ?". Development is found to be directly related to the savings among domestic households. Saving in turn, depends of the cost of essentials needs, namely Food, Shelter and Clothing. People migrate towards nations providing a saving platform. The developing nations attract foreign investment, with many economic incentives. This is an added dependence with profit oriented corporate units, providing only large volume employment, without any commitment to upgrade the domestic techno-commercial/economic infrastructure. These thoughts were exposed to a team of 14 diversified, but critically responsible persons in different nations, committed and working towards an accelerated Socio-Economic development. Based on all these approaches, a Geometric model is developed. This aims towards boosting the domestic savings to support domestic investments, and to improve the quality of domestic human potential to man the domestic technology. Both these should be maintained and monitored by the optimum infrastructure mix. Techno-commercial systems assist to develop the technology, and optimise the resource utilisation. This model is developed in the form of two intersecting circles, one linking the domestic savings with the domestic investments, and the other linking the domestic human potential with the domestic technology. The former represents the external entrepreneurial activity, designated as "Exogenous", and the latter involving internal productive activity, is designated as "Endogenous". A geometric approach is used to solve these two intersecting circles, aiming towards a central objectives of integrating the Exogenous and Endogenous aspects. This will upgrade the socio-economic status, and enlarge the qualitative and quantitative outputs. The inference derived from this indicate that, the attempts to accelerate the pace of socio-economic development should be to encourage equal efforts in both the Exogenous and Endogenous aspects, updating the technology towards the latest in the world as applicable to the local conditions. The qualitative and quantitative dimensions of the economy could be improved by expanding the operating dimensions in both the Endogenous and Exogenous aspects, in equal magnitude. The past and current experiences of the developing and the developed world, support this model solution. Keywords: Acceleration; Bi-circular Model; Decision Methodology; Developed; Developing; Domestic; Economic Development; Econometric Model; Geometric Model; Investment; Management; Manpower; Productivity; Savings; Social; Development; Socio-Economic Development; Technology; Under Developed (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:107606 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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