On the Backwardness in Macroeconomic Performance of European Socialist Economies

Laurent Weill

Working Papers of LaRGE Research Center from Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg

Abstract: This paper aims to compare the macroeconomic performance of three European socialist economies (Hungary, Poland, Yugoslavia) with developing and developed countries during the eighties. Using panel data for 87 countries, we measure macroeconomic performance with two frontier efficiency techniques: the stochastic frontier approach, and the time-varying WITHIN model proposed by Cornwell, Schmidt and Sickles (1990). We conclude in favor of the underperformance of socialist countries in relation to developed countries but also to developing countries, which may be explained by the features of the socialist economic system.

Keywords: Productivity analysis; socialist system; stochastic frontier approach; growth. (search for similar items in EconPapers)
JEL-codes: C21 C23 O4 P20 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:lar:wpaper:2004-06

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