Reply to Brendan Beare

William Easterly and Stanley Fischer

Econ Journal Watch, 2008, vol. 5, issue 2, 145-147

Abstract: This is our reply to Brendan Beare’s comment on our paper. While we find his criticism to be both valid and helpful, a modified version of our original model still confirms that a low elasticity of substitution between capital and labor doomed the Soviet strategy of extensive growth through capital accumulation.

Keywords: Economic growth; Soviet economy; extensive growth (search for similar items in EconPapers)
JEL-codes: N14 O40 (search for similar items in EconPapers)
Date: 2008
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