## Capital formation and economic development |

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### Contents

The Mathematical Framework of the page | 11 |

Alternative Numerical Models of the | 23 |

An Outline of a Method for | 33 |

Copyright | |

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### Common terms and phrases

aggregate allocation alternative assumed assumption capacity capital-output ratio cent per annum Chakravarty choice elements computational consistency model crores decision depreciation determined difference equations discussion dynamic programming economic estimates exogenously exports factors finite Five Year Plan foreign exchange growth of consumption implies important increase India initial conditions initial levels intermediate consumption intertemporal planning investment labour Leontief levels of consumption linear marginal productivities marginal rate marginal utility matrix matrix exponential maximizing National Income non-negative optimizing model output path pecuniary external planning framework planning horizon planning model planning period possible preference function procedure producing capital production functions productivity of capital projects rate of exchange rate of growth rate of interest rate of return rate of savings requirements Samuelson shadow prices shadow rate social welfare function Solow solution specified stipulated targets tax revenue terminal capital stock terminal conditions terminal stock Tinbergen tion utility function values variables