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Development Planning

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Abstract

Conscious plans for development of the economy as a whole over an extended period (say, five or ten years) were drawn up for the first time in the Soviet Union in the 1920s. The socialist countries of Eastern Europe, and the People’s Republic of China have since then been the most consistent practitioners of development planning. However, the practice of drawing up development plans soon spread from the Soviet Union to non-socialist countries and some of the plans promulgated by the respective governments were also implemented, with different degrees of success.

This chapter was originally published in The New Palgrave: A Dictionary of Economics, 1st edition, 1987. Edited by John Eatwell, Murray Milgate and Peter Newman

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Bagchi, A.K. (1987). Development Planning. In: Durlauf, S., Blume, L. (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95121-5_68-1

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  • DOI: https://doi.org/10.1057/978-1-349-95121-5_68-1

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  • Publisher Name: Palgrave Macmillan, London

  • Online ISBN: 978-1-349-95121-5

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