- Malaysia,
- Economics,
- Development,
- Planning
Development planning has been described as "a deliberate governmental attempt to coordinate economic decision-making over the long-run and to influence, direct and, in some cases, even control the level and growth of a nation's principal economic variables (income, comsumption, employment, investment, saving, exports, imports, etc.) in order to achieve a pre-determined set of development objectives." One set of reasons for planning centres round the operation of the market system. Thus, market prices are often distorted and can result in a misallocation of scarce resources. Another set revolves round the need to have a rallying point for local and foreign interests in eliminating proverty. A development plan is seen to provide this psychological boost for the local population, while to the foreigners it is "proof" that the country is serious about development...
Available at: http://works.bepress.com/davidls-lim/59/