Abstract
Given the scarcity of resources in developing countries in relation to development needs, one of the central issues in development economics is the allocation of resources among competing ends. For most developing countries the two major constraints on the growth of output are the ability to invest and import, and most theories of resource allocation and most investment criteria reflect this fact. A common starting-point in the consideration of resource allocation is how to maximise the level or growth of output from the domestic resources available, and how to minimise the use of foreign exchange.
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© 1978 A. P. Thirlwall
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Thirlwall, A.P. (1978). Resource Allocation and the Choice of Techniques. In: Growth and Development. Palgrave, London. https://doi.org/10.1007/978-1-349-15875-1_7
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DOI: https://doi.org/10.1007/978-1-349-15875-1_7
Publisher Name: Palgrave, London
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