Economic Development & Resource Allocation in India

The proposed study will examine economic development and the allocation of resources in India. The methodology that will be followed in the conduct of this study is described and explained in this chapter.

The principal focus in the proposed study will be on the macroeconomic effects of spending on national defense on economic growth and social development in India. The time frame of the proposed study will be the inclusive 30-year period 1969-1998.

One of the more controversial issues in public policy analysis concerns the question of the effects of spending on defense spending on a country's economic and social development. Proponents of high levels of defense spending claim that significant economic benefits derive from such expenditures. It is inferred that, as a consequence of economic benefits associated with spending on national defense, social benefits also accrue to the country. Opponents emphasize that any economic benefits derived from high levels of spending on national defense are short-term in character, at best, and that, over the long-term, such expenditures retard economic development. The detractors of high levels of defense spending claim further that retarded economic development, in turn, leads to retarded social development (Mintz & Stevenson, 1995).

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ot a valid instrument. Therefore, it can easily be seen that reliability in an instrument is required before that instrument can be considered to be valid, but that reliability in an instrument cannot, alone, guarantee that such instrument will be valid. A validity coefficient is the correlation coefficient between a measuring procedure and an outside or independent measure of the function that the test was designed to measure. If those who stand high on a test, as an example, stand high on the outside criterion, and those who stand low on the test are low on the outside criterion, the test is valid. As a correlation coefficient, a perfect validity coefficient would be +1.00 and a complete absence of validity would be 0.00. A negative correlation, regardless of how high it was, would not be an indication of the validity of an instrument; for an instrument to be valid, its validity coefficient must be positive and it must be high. The obvious question which arises concerns how high a validity coefficient should be in order for a measurement procedure to be considered as valid. In the simple example used aboveùthat of an instrument designed to measure the height of individuals in feet and inches, it would be desirable for the
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Some common words found in the essay are:
Bureau Standards, Adams Gold, Causality Test, Mx SR, GDP India, Monte Carlo, Research Design, Mx GM, India Specifically, national defense, Budget Project, social development, defense spending, economic development, spending national defense, spending national, economic growth, proposed study, chowdhury 1991, nabe 1983, nominal rupees, national defense nominal, defense nominal rupees, = spending national, nominal rupees proportion,
Approximate Word count = 3803
Approximate Pages = 15 (250 words per page)

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