| Abstract: |
This paper builds a prototype model of how to prioritize policies by using a
flowchart. We presented the following six steps to decide priorities of
policies: Step 1 is to attain the social subsistence level (primary education,
health care, and food sufficiency); Step 2 is to attain macroeconomic
stability; Step 3 is to liberalize the economy by structural adjustment
programs; Step 4 is capacity building specific to a growth strategy by
facilitating sufficient infrastructure (physical infrastructure and
institutions); Step 5 is to initiate a growth strategy; and Step 6 is to
narrow income inequalities. We illustrated the effectiveness of our "flowchart
method" in case studies of Morocco, Laos, Vietnam, and China. The first
priority of reforms in Morocco was given to social sectors of primary
education and health care, particularly in the rural areas at Step 1. Laos
should not put much emphasis on growth strategy before educational reform,
attainment of macroeconomic stability, and institutional capacity building at
Steps 1, 2, and 3. Vietnam can focus on reforming the state-run enterprises
and developing the stock markets at Step 5 of growth strategies. We found that
we should apply our flowchart method to China not nation-wide but
province-wide. |
| Keywords: |
Prioritization, Flowchart, Policies, Economic policy, Economic planning, Development policy, Morocco, Laos, Vietnam, China |