Life Cycle of the Centrally Planned Economy: Why Soviet Growth Rates Peaked in the 1950s

Vladimir Popov

Chapter 2 in Transition and Beyond, 2007, pp 35-57 from Palgrave Macmillan

Abstract: Abstract In the second half of the twentieth century the Soviet Union experienced the most dramatic shift in economic growth patterns. High post-war growth rates of the 1950s gave way to the slowdown of growth in the 1960s–80s and later — to the unprecedented depression of the 1990s associated with the transition from a centrally planned economy (CPE) to a market one. Productivity growth rates (output per worker, Western data) fell from an exceptionally high 6 per cent a year in the 1950s to 3 per cent in the 1960s, 2 per cent in the 1970s and 1 per cent in the 1980s. In 1989 transformational recession started and continued for almost a decade: output was constantly falling until 1999 with the exception of one single year — 1997, when GDP increased by a barely noticeable 0.8 per cent. If viewed as an inevitable and logical result of the Soviet growth model, this transformational recession substantially worsens the general record of Soviet economic growth.

Keywords: Capital Stock; Total Factor Productivity; Total Factor Productivity Growth; Capital Productivity; Productivity Growth Rate (search for similar items in EconPapers)
Date: 2007
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Working Paper: Life Cycle of the Centrally Planned Economy: Why Soviet Growth Rates Peaked in the 1950s (2010)
Working Paper: Life Cycle of the Centrally Planned Economy: Why Soviet Growth Rates Peaked in the 1950s (2010)
Working Paper: Life cycle of the centrally planned economy: Why Soviet growth rates peaked in the 1950s (2006)
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DOI: 10.1057/9780230590328_3

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