Welfare Paradox in Economic Restructuring

Gene Hsin Chang and Dianqing Xu

Economic Change and Restructuring, 1996, vol. 29, issue 1, 25-31

Abstract: It can be proved theoretically that, because of the previously existing price and structural distortion, a welfare paradox is possible in the former command economies during the transition period. This paradox refers to a situation in which a welfare gain is accompanied by a fall in the reported GNP figure. Copyright 1996 by Kluwer Academic Publishers

Date: 1996
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