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An important consideration when identifying and implementing transportation investments is the prospect of economic development. Government agencies are faced with the challenging task of efficiently allocating scarce resources in order to satisfy the physical needs of the state and its communities. The Indiana Department of Transportation has the difficult task of prioritizing projects involving urban and rural transportation investments while attempting to satisfy both local and state needs. Typically, urban settings provide the greatest opportunity for economic development, due to population density, public infrastructure, and ready markets. Consequently, rural areas may get left behind, becoming more isolated and unattractive from a business and even residential standpoint. Therefore a study is needed to identify the methodology that can accurately evaluate the economic impacts of a transportation investment, with emphasis on rural Indiana. A variety of performance measures could be used when evaluating a potential investment. This study has sought to identify and assess economic development performance measures to be used when evaluating transportation investments in rural Indiana.
The history of economic development of countries show that there have been countless examples of institutional agencies that have played pivotal role in fulfilling certain developmental activities. Cooperation as an institution is used in various countries as instrument of economic growth. The economic performance of rural regions around the world is lagging, despite efforts by governments and local leaders to address the problem. Rural economic development should focus on the unique strengths of each area, rather than concentrating on ameliorating generic weaknesses. Rural economic development should address and harness the efficient spatial distribution of economic activity rather than attempt to replicate urban economies. Rural development aims at improving rural people's livelihoods in an equitable and sustainable manner, both socially and environmentally, through better access to assets and services, and control over productive capital that enable them to improve their livelihoods on a sustainable and equitable basis. It is certain that the valuable contributions, views and suggestions of the researchers will be of immense help to the future researchers, policy-makers, administrators and social thinkers in solving the problem of poverty, unemployment and to achieve economic development of the country as well as the state, especially in rural sector, renewing the existing employment generating programmes. The objective underlying the publication of this book is, therefore, to attract the attention of those interested in, and concerned with, the growth and progress of agricultural sector in our country.
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Development performance is not merely economic growth and prosperity, but includes a multitude of goals. This monograph makes an attempt to conceptualize development, consisting of eight dimensions – material prosperity, education, health, economic security, personal security, environmental conditions, political voice and social connections. The authors implement this multidimensional concept to design not only an overall index of development (DI) for Indian states but also three sub indices, human development (HD), security (SEC) and voice and confidence (VC), that broadly represent three distinct aspects of development. The results clearly show that state level performances vary considerably across the various dimensions of development. No state does uniformly well or badly across all levels, thereby exposing the fallacy of branding the development experience of a particular state as ideal based on its achievement on some aspects of development. Since good performance in one dimension does not ensure doing well on other dimensions too, it would be inappropriate to ignore the performances on the three sub-indices and the eight dimensions. Recognition of such diversity of performance is particularly important in a federal structure, like India, where different states may have different development priorities. This study will enable states to reflect on whether they have been performing according to their priorities and if not, they may choose to tweak their policies or their development strategies. Please note: Taylor & Francis does not sell or distribute the Hardback in India, Pakistan, Nepal, Bhutan, Bangladesh and Sri Lanka