The experience and development record of many less developed countries during the postwar period shows that the process of development tends to be long and not without complications. While a number of developing countries have performed well, many others have witnessed, for example, incorrect allocation of scarce resources, rising levels of unemployment and inequality, or disparities in sectoral development — the causes of which are not always clear or readily detectable. In addition, almost all developing countries — except the few very large ones — have relatively open economies and are not in a position to ignore outside developments on the world market for longer periods of time. A considerable number of developing economies are characterized by various distortions and interventions in the domestic factor and product markets. Under these circumstances, the preparation and coordination of development policy, i.e., development planning, is a difficult, complicated and responsible task, which increasingly relies on systematic methods of planning.1
KeywordsOpen Economy Capacity Expansion Project Level International Sector Project Appraisal
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