Why did socialist economies fail?

Arbeitspapier

We present new investment data and revised growth accounts for three socialist economies between 1950 and 1989. Government statistics reported distorted measures for both the rate and trajectory of productivity growth in Czechoslovakia, Hungary, and Poland. Researchers have benefited from revised output data, but continued to use official statistics on capital input, or estimated capital stock from official investment data. Investment levels and rates of capital accumulations were, in fact, much lower than officially claimed and over-reporting worsened over time. Sluggish factor accumulation, declining equipment investment and labor input, contributed much more to the socialist growth failure of the 1980s than previously thought.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: School of Economics Discussion Papers ; No. 1708

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: 1913- ; Economic History: Manufacturing and Construction: Europe: 1913- ; Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence ; Socialist Systems and Transitional Economies: Performance and Prospects
• Thema: growth accounting ; capital accumulation ; Socialism ; Eastern Europe

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Vonyó, Tamás ; Klein, Alexander
• Ereignis: Veröffentlichung
• (wer): University of Kent, School of Economics
• (wo): Canterbury
• (wann): 2017

Weitere Informationen

• Handle: http://hdl.handle.net/10419/175519
• Letzte Aktualisierung: 10.03.2025, 11:43 MEZ