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The soviet market for inventions : the case of jet propulsion, 1932 to 1944

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  • Harrison, Mark

Abstract

The paper outlines the problem of aviation jet propulsion in the interwar period and World War II and analyses Soviet progress towards a solution using newly available archival documentation. Soviet R&D commitments were influenced by long–term security motivations and the need to invest in local tacit knowledge. The scale and diversity of the Soviet R&D effort is described. The allocation of resources resulted from R&D agents’ horizontally organized market–like interactions within a vertically organized command system. Financing excisions were made in a context of asymmetric information, adverse selection, and opportunism. Overall funding was rationed; budget constraints on individual projects were soft, but were periodically hardened. In addition to decisions to finance and refinance or terminate projects, takeovers and mergers took place in a secondary asset market. There is evidence of rent–seeking activity, but where rent–seeking was detected it was punished.

Suggested Citation

  • Harrison, Mark, 2001. "The soviet market for inventions : the case of jet propulsion, 1932 to 1944," The Warwick Economics Research Paper Series (TWERPS) 605, University of Warwick, Department of Economics.
    • Handle: RePEc:wrk:warwec:605
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