The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Central Planning

  • Tadeusz Kowalik
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_683

Abstract

Central planning denotes the total body of government actions to determine and coordinate directions of national economic development. The process of central planning is composed of pre-plan studies and forecasts, formulation of aims for given periods of time, establishment of their priorities (order of importance), listing ways and means, and, eventually, the plan’s implementation. Central planning is a term usually associated with Centrally Planned Economies (CPE) as opposed to Private Enterprise (or Market) and Mixed Economies (UN official classification), but it is often used in a broader sense to denote any systematic macroeconomic control by the government. For Tinbergen (1964), central planning means planning by governments, or national planning (in the Netherlands as well as in some other countries there are Central Planning Bureaux, even though these economies cannot be classed with the group of CPEs).

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Tadeusz Kowalik
    • 1
  1. 1.