Long-Run Economic Projections: A Review and Appraisal

This paper has three major objectives: First, to outline the general nature of economic projections, including methodology, limitations, and uses in policy appraisal; second, to review a recent projection published by Resources for the Future; and third, to propose a general-purpose economic projection for use by Government agencies in resource development work. The general-purpose projection would serve primarily as a reference for sector analyses and more detailed regional, river basin, or similar smaller area resource development studies.