Why did socialist economies fail? The role of factor inputs reconsidered
Tamás Vonyó () and
Economic History Review, 2019, vol. 72, issue 1, 317-345
This article presents new estimates for investment and new growth accounts for three socialist economies between 1950 and 1989. Government statistics reported distorted measures for both the rate and the trajectory of productivity growth in Czechoslovakia, Hungary, and Poland. Researchers have benefited from revised output data, but have continued to use official statistics on capital input, or estimated capital stock from official investment data. Investment levels and rates of capital accumulation were much lower than officially claimed and over‐reporting worsened over time. A setback in factor accumulation—both investment in equipment and labour input—contributed very significantly to the socialist growth failure of the 1980s.
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Working Paper: Why did socialist economies fail? The role of factor inputs reconsidered (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bla:ehsrev:v:72:y:2019:i:1:p:317-345
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0013-0117
Access Statistics for this article
Economic History Review is currently edited by Stephen Broadberry
More articles in Economic History Review from Economic History Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().