Open AccessA Summary of Input-Output Studies of The Economy of Pakistan
Author(s) -
Ghulam Rasul
Publication year - 1965
Publication title -
pakistan development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.154
H-Index - 26
ISSN - 0030-9729
DOI - 10.30541/v5i3pp.408-460
Subject(s) - production (economics) , consumption (sociology) , task (project management) , process (computing) , table (database) , computer science , final demand , economics , input/output , value (mathematics) , input–output model , economy , microeconomics , macroeconomics , social science , management , machine learning , sociology , data mining , operating system
The technique of input-output analysis is now being widelyused as a tool for development planning. This technique aims at aquantitative evaluation of the processes of production and consumptionand the presentation of the results in a single picture. Thequantitative relationships existing between different segments of theeconomy are shown in the form of an input-output flow-table which arethen used as coefficients in a mathematical model. The model so formedis intended to reflect the most important economic variables in thesystem and the interrelationships existing between them. Such a modelcan indeed be of considerable help in determining consistent sets ofeconomic policy and facilitating the task of the policy maker in makinga choice between them. The input-output approach has two distinctaspects. Its more pedestrian side is to depict, by means of a consistentaccounting framework, the inter-industry transactions flow-table for theentire system and the interdependence between its sectors for the periodto which the data relate. This type of tabulation would obviously be ofconsiderable intrinsic value by way of showing in summarized form theavailability of the different types of products classified by industriesof origin and their disposal over "intermediate" and "final de¬mand"—theformer created by the productive sectors and the latter involving goodswhich will not be subjected to any further process of production.