Social and Behavioral Sciences Commons^™

Malaysian Development Planning, David Lim

Support & Other Units (THEi)

Development planning has been described as "a deliberate governmental attempt to coordinate economic decision-making over the long-run and to influence, direct and, in some cases, even control the level and growth of a nation's principal economic variables (income, comsumption, employment, investment, saving, exports, imports, etc.) in order to achieve a pre-determined set of development objectives." One set of reasons for planning centres round the operation of the market system. Thus, market prices are often distorted and can result in a misallocation of scarce resources. Another set revolves round the need to have a rallying point for local and foreign interests …