Estimation Of Output Loss From Allocative Inefficiency: Comparison Of The Soviet Union And The U.S
AbstractThis paper presents two different estimates of the output loss resulting from allocative inefficiency in the Soviet Union and the United States. Surprisingly, the evidence from our examination of nine industrial sectors during the period 1960-84 shows only small differences in measured.allocative inefficiency between the United States and Soviet economies. Instead of immediately rejecting this result as the product of unreliable data and insurmountable methodological difficulties, we present a plausible explanation for the unexpectedly strong performance of Soviet-type economies in the allocation of labor and capital across sectors. If true, the finding of relatively low levels of resource misallocation implies that the source of poor economic performance in Soviet-type economies must be due to technical inefficiency, slow technological change, and/or production of the wrong mix of outputs. Copyright 1992 by Kluwer Academic Publishers
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Bibliographic InfoPaper provided by Department of Economics, Williams College in its series Center for Development Economics with number 109.
Length: 45 pages
Date of creation: 1988
Date of revision:
Other versions of this item:
- Barreto, Humberto & Whitesell, Robert S, 1992. " Estimation of Output Loss from Allocative Inefficiency: A Comparison of the Soviet Union and the U.S," Economic Change and Restructuring, Springer, vol. 25(3), pages 219-36.
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- Justin Yifu Lin & Fang Cai & Zhou Li, 1994. "China's economic reforms : pointers for other economies in transition?," Policy Research Working Paper Series 1310, The World Bank.
- Lin, Justin Yifu, 2003.
"Development Strategy, Viability, and Economic Convergence,"
Economic Development and Cultural Change,
University of Chicago Press, vol. 51(2), pages 276-308, January.
- Lin, Justin Yifu, 2003. "Development Strategy, Viability, and Economic Convergence," Economic Development and Cultural Change, University of Chicago Press, vol. 51(2), pages 276-308, January.
- Justin Yifu Lin, 2001. "Development Strategy, Viability, and Economic Convergence," William Davidson Institute Working Papers Series 409, William Davidson Institute at the University of Michigan.
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