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Public investment in economic development

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dc.contributor.author Davies CB en
dc.date.accessioned 2016-09-22T11:50:09Z
dc.date.available 2016-09-22T11:50:09Z
dc.date.created 1972 en
dc.date.submitted 1976 en
dc.identifier.uri http://hdl.handle.net/20.500.11892/136084
dc.description.abstract The aim of this study is to review and assess the role of public investment in the qualitative process of economic development. In this, its impact on private sector activity within sectoral transformation and regional balance are the prime consideration. Chapter I comprises a brief review of the central through changing role perceived for investment in economic thought. The growing complexity of investment in dynamic growth theories; the widening of the variables and parameters in development economics, and the applicability of market theories to LDC's are all canvassed. The qualitative changes, thought, have to be related to the characteristics or features of LDC's which distinguish them from the more conventional problems of economic stabilization and growth in more developed countries (MDC's). These social, political and economic disabilities comprise the terrain against which to analyze public sector intervention. The study then concentrates on the criteria devised for (public) investment in LDC's in the wider context of resource allocation. The major questions facing decisions on public investment outlays embrace which sectors and projects offer the greatest benefit in terms of the objective function set and which technology is best suited to the ends as well as resource availability. With regional balance and imbalance, the problems remain complex. Partly this is a result of the late arrival of regional economics as a major branch of economics/geography where location theory, growth points and export base theories have still to undergo further refinement and empirical testing. Partly because the difficulties of measuring regional economic activity and linkages are very difficult in countries whose broader national accounts are still so tentative. Criteria conflict between fiscal action for long- and short-term growth maximization on the one hand and distributional equity between nationals in different regions also complicates the use of regional analysis in economic development. The application of these more dynamic investment strategies in three LDC's - India, Brazil and South Africa, is assessed. en
dc.language English en
dc.subject Economics en
dc.subject Development/upliftment economics en
dc.title Public investment in economic development en
dc.type Masters degree en
dc.description.degree MA en

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