Shulph Ink
Role of Public Policy in Development Process: Emerging Socioeconomic Scenario in the Indian Economy
Role of Public Policy in Development Process: Emerging Socioeconomic Scenario in the Indian Economy
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The right balance between market forces and government is needed for Pareto efficiency. Stiglitz suggested that government could improve resource allocation, but institutional inertia, fragmented design, and lack of non-governmental inputs hinder execution. The study of public policy in commodity production, industry, and tertiary sectors is important for efficient and people-friendly governance structures. This volume presents an analytical framework for the formulation of development policy.
Format: Hardback
Length: 450 pages
Publication date: 30 June 2023
Publisher: Academic Foundation
The real debate today revolves around striking the perfect balance between market forces and government intervention to achieve Pareto efficiency. Stiglitz argued that government has the potential to enhance resource allocation compared to market mechanisms. However, in reality, factors such as institutional inertia, fragmented design, and ineffective execution hinder the effective implementation of rational policies. The absence of non-governmental inputs, lack of debate, and systematic analysis before policymaking leads to ineffective policy formulation and action, impeding economic development.
Studying public policy in commodity production (agriculture, industry), as well as tertiary sectors (services, trade, and transport), is crucial in developing efficient and people-friendly governance structures. The present volume comprises a collection of papers that aim to develop an analytical framework for formulating development policies, focusing on critical segments of the economy and society, including agriculture, industrial development, employment and entrepreneurship, urbanization, weaker sections, and governance issues.
Nineteen chapters are organized into four sections: Section 1: Issues in the Agriculture Sector; Section 2: Industrial Development, Employment, and Entrepreneurship; Section 3: Issues in Sustainable Urbanization; and Section 4: Governance Structure and Development Outcomes.
The papers appearing in this volume were presented at a seminar funded by the Indian Council of Social Science Research.
Weight: 825g
Dimension: 235 x 159 (mm)
ISBN-13: 9789332704213
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