Advanced Search
MyIDEAS: Login to save this article or follow this journal

Old Capital vs. New Investment in Post-Soviet Economies: Conceptual Issues and Estimates

Contents:

Author Info

  • Alexei Izyumov

    ()
    (Department of Economics, College of Business, University of Louisville, Louisville, KY 40292, USA.)

  • John Vahaly

    ()
    (Department of Economics, College of Business, University of Louisville, Louisville, KY 40292, USA.)

Registered author(s):

    Abstract

    The paper evaluates levels and trends in capital accumulation in countries of the Commonwealth of Independent States (CIS) since the start of market reforms. Based on certain assumptions about the survival rate of the old Soviet era capital and perpetual inventory method to account for new investments, we estimate the amount of ‘market-quality’ capital accumulated in the CIS economies in the 1992–2005 period. Over the period of observation, in Russia the losses of the 1990s were largely restored while most other countries saw a decline in capital stock. Russia remains the highest capitalised CIS country with capital–labour ratio (K/L) of about $40,000 per worker. The lowest capitalised countries have K/L's from $10 to $13,000. Growth accounting using market-quality capital stock shows that the key factor of GDP changes was the dynamics of total factor productivity. Comparative Economic Studies (2008) 50, 79–110. doi:10.1057/palgrave.ces.8100237

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.palgrave-journals.com/ces/journal/v50/n1/pdf/8100237a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: http://www.palgrave-journals.com/ces/journal/v50/n1/full/8100237a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Palgrave Macmillan in its journal Comparative Economic Studies.

    Volume (Year): 50 (2008)
    Issue (Month): 1 (March)
    Pages: 79-110

    as in new window
    Handle: RePEc:pal:compes:v:50:y:2008:i:1:p:79-110

    Contact details of provider:
    Web page: http://www.palgrave-journals.com/

    Order Information:
    Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK
    Email:
    Web: http://www.palgrave-journals.com/pal/subscribe/index.html

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Suparna Chakraborty & Keisuke Otsu, 2012. "Deconstructing Growth - A Business Cycle Accounting Approach with application to BRICs," Studies in Economics, Department of Economics, University of Kent 1212, Department of Economics, University of Kent.
    2. Mika Kortelainen & Simo Leppänen, 2013. "Public and private capital productivity in Russia: a non-parametric investigation," Empirical Economics, Springer, Springer, vol. 45(1), pages 193-216, August.
    3. McDonald Bruce D & Eger Robert J, 2010. "The Defense-Growth Relationship: An Economic Investigation into Post-Soviet States," Peace Economics, Peace Science, and Public Policy, De Gruyter, De Gruyter, vol. 16(1), pages 1-28, September.
    4. Josef Brada & Ali Kutan & Goran Vukšić, 2011. "The costs of moving money across borders and the volume of capital flight: the case of Russia and other CIS countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, Springer, vol. 147(4), pages 717-744, November.
    5. Timmer , Marcel P. & Voskoboynikov , Ilya B., 2013. "Is mining fuelling long-run growth in Russia? Industry productivity growth trends since 1995," BOFIT Discussion Papers, Bank of Finland, Institute for Economies in Transition 19/2013, Bank of Finland, Institute for Economies in Transition.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:pal:compes:v:50:y:2008:i:1:p:79-110. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Elizabeth Gale).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.