The rise and decline of the Soviet economy

Robert C. Allen

doi:10.1111/0008-4085.00103

The rise and decline of the Soviet economy

Robert C. Allen

Economics

Research output: Contribution to journal › Article › peer-review

Abstract

The reasons for the rapid growth of the Soviet Union before roughly 1970 and for its subsequent growth slowdown are analysed. The concentration of investment on heavy industry and soft budget constraints explain most of the growth in the 1930s. The growth slowdown was due to disastrous investment decisions following the elimination of surplus labour and the diversion of research and development resources to the military rather than the failure of firms to carry out plans or diminishing returns to capital.

Original language	English (US)
Pages (from-to)	859-881
Number of pages	23
Journal	Canadian Journal of Economics
Volume	34
Issue number	4
DOIs	https://doi.org/10.1111/0008-4085.00103
State	Published - Nov 2001

ASJC Scopus subject areas

Economics and Econometrics

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10.1111/0008-4085.00103

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The rise and decline of the Soviet economy

Abstract

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