By Murat Yülek
This publication discusses nationwide improvement making plans within the context of a globalized international economic system. nationwide fiscal improvement making plans, the method of defining strategic fiscal targets for a rustic and designing regulations and institutional frameworks to achieve them, used to be well known in lots of nations within the Nineteen Sixties and Nineteen Seventies. over the years it misplaced its charm. extra lately, with globalization accelerating and fiscal pageant expanding, it really is coming round again in numerous nations below diverse varieties. nationwide making plans during this new period is various than the sooner quantitative making plans ways. It employs assorted instruments, resembling strategic visions and motion plans, revived kinds of actual infrastructure making plans, commercial coverage, and cluster coverage. equipped at the learn of overseas students with firsthand wisdom of the international locations in query, this quantity provides and evaluates present nationwide making plans techniques and coverage all over the world. it will likely be of curiosity to either academicians who learn and educate globalization and improvement in addition to coverage makers who may possibly use it as a reference as they reflect on their very own strategies.
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Additional info for Economic Planning and Industrial Policy in the Globalizing Economy: Concepts, Experience and Prospects
Example text
The main axis of debate has been the “state versus free markets” argument. Could state intervention achieve a better outcome than no intervention? 38 That line of thought argued against the viability of socialist planning based on its overruling of price signals. Nevertheless, arguments against planning in market economies also followed similar logic. While the role of state intervention continues to be a central theme of discussion in economics, there is not much contemporary discussion and assessment of economic planning.
A dynamic intervention, on the other hand, would deal with developmental issues such as: • Physical planning in sectors such as transportation, education, agriculture: For example, forecasting transportation demand, designing the consequent future transportation infrastructure configuration. • Building dynamic comparative advantage: As has been done in countries such as South Korea and Japan, an effort to change the static comparative advantage of the country away from primary to secondary sectors, for example, from agriculture towards more income-elastic industrial sectors.
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