Intersectoral Allocations of Investments:A Re-examination of the Mahalanobis-Feldman thesis
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概要
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The purpose of this paper is to examine a very important theory in the literature of Development Planning commonly known as Mahalanobis-Feldman thesis. According to this theory a country can maximise its long-term growth rate if it invests more in the capital goods producing sector than in the consumption-goods producing sector. A model of the Indian economy for the period 1950-1970 was developed in order to simulate this theory along with the given historical conditions. Optimal control theory was used to see whether in the optimal pattern of investment the Mahalanobis-Feldman thesis can be validated. The result shows, given the balance of payments constraint in the optimal path of development more should be invested in the capital goods producing sector in order to achieve the planned target; however the optimal allocations of the labour forces between different sectors are different from the historical pattern.
- 長崎大学の論文
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