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Strategic planning of complex economic systems ∗
Authors:Peter Allen  Norman Clark  Francisco Perez-Trejo
Institution:1. Cranfield Institute of Technology;2. University of Sussex
Abstract:A major drawback of conventional models of the behavior of economic systems (and derived tools for policy intervention) is that the desire for tractability leads generally to a high degree of abstraction from reality. This article suggests an alternative, and arguably complementary, approach which engages specifically with economic complexity. The technique used is one of interactive spatial modelling over long time periods where the principle economic agents base decisions on incomplete heuristic information. For illustrative purposes the model has been calibrated on the basis of Senegalese data for 1981–91 and broad generic equations presented. The article argues that such a methodological approach holds out considerable advantages for strategic planning of sustainable economic systems. In particular it permits the direct engagement of noneconomic disciplines and client stakeholders in the planning process.
Keywords:
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