As Evidenced by Theage-old Dynamics of Indicators of Major Rail System

О чем свидетельствует столетняя динамика показателей крупнейших железнодорожных систем

Macheret, Dmitry А. (Мачерет, Дмитрий) ()
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Macheret, Dmitry А. (Мачерет, Дмитрий): Moscow State University of Railway Engineering of Emperor Nicholas II

Ekonomicheskaya Politika / Economic Policy, 2016, vol. 6, 138-169

Abstract: The article compared results of economic development in terms of market mechanisms and centralized planning, based on an analysis of key indicators of the domestic and North American railroads for the century-long period. It was revealed that the higher and more sustainable dynamics of volume indicators, achieved in certain periods in a centrally planned economy does not show its advantages in comparison with the market economy, which is characterized by cyclical. It is shown that on the basis of centralized planning and control can not be implemented the strategy of “catching up development”. At the same time it found that the degree of success ensuring productive use of various resources in the framework of centralized planning and control is inversely proportional to their importance in the modern economy. This demonstrates the impossibility of the effective implementation of such methods of economic management. In conditions of market relations ensured advancing more efficient use of the main economic resource of our time — human capital. It is showing positive results of economic reforms in the railway transport. Made the conclusion about the necessity of development of market mechanisms and institutional framework (in particular, the removal of restrictions on the involvement of private capital in the development of the existing rail infrastructure) for the successful solution of problems of the Russian railway sector and the entire economy

Keywords: catching-up development; economic dynamics; market economy; centrally planned economy; rail transport (search for similar items in EconPapers)
JEL-codes: L92 N70 P19 P29 R49 (search for similar items in EconPapers)
Date: 2016
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