The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Development Planning

  • Amiya Kumar Bagchi
Reference work entry


Conscious plans for development of the economy as a whole over an extended period (say, five or ten years) were drawn up for the first time in the Soviet Union in the 1920s. The socialist countries of Eastern Europe, and the People’s Republic of China have since then been the most consistent practitioners of development planning. However, the practice of drawing up development plans soon spread from the Soviet Union to non-socialist countries and some of the plans promulgated by the respective governments were also implemented, with different degrees of success.

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Amiya Kumar Bagchi
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