Date of Original Version

4-1994

Type

Conference Proceeding

Abstract or Description

In its early years - and for many years after - the main development recommendation of the World Bank was: adopt economic planning. Planning models were used to recommend policies and governments were encouraged to use these tools to choose investments.

The result was bureaucratic centralization of economic decision-making. This may have accorded with widely held views in many developing countries. Particularly in the academic profession, many believed planning was the best way to organize development.

Comments

Luncheon address to the India-U.S. Conference Carnegie Mellon University April 28, 1994

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