The Future of Socioeconomic Development
Modeling of change in economies and in governance builds in part on modeling of human development, including that of the size, health, and education of the labor force and broader citizenry. Multisector production with endogenous multifactor productivity change and demand representations ideally underlie equilibrating economic modeling. The dimensions of security, capacity, and inclusion can help shape modeling of governance. Representation of financial flows across households, firms, and the government in social accounting matrices makes possible realistic representation of the broader impacts of spending interventions. Modeling of the economy and government at the country level facilitates ...
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