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The Classical Soviet-Type Economy: Nature of the System and Implications for Reform

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  • Richard E. Ericson

Abstract

Below I will outline the traditional Soviet economic system, developing its logic of institutions and interactions, and pointing out their natural economic consequences. This will lead me to a list of defining characteristics of that system, characteristics that are mutually dependent and supporting and hence must be changed more or less simultaneously if effective reform is to take place. One implication is that step-by-step measures are likely to fail. Instead, complete replacement of the economic system, as apparently intended by many East European reformers, seems necessary for a market-based system to begin functioning. This will be a truly monumental task and nowhere more so than in the Soviet Union.

Suggested Citation

  • Richard E. Ericson, 1991. "The Classical Soviet-Type Economy: Nature of the System and Implications for Reform," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 11-27, Fall.
  • Handle: RePEc:aea:jecper:v:5:y:1991:i:4:p:11-27 Note: DOI: 10.1257/jep.5.4.11
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    References listed on IDEAS

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    1. Powell, Raymond P., 1977. "Plan execution and the workability of soviet planning," Journal of Comparative Economics, Elsevier, pages 51-76.
    2. Roland, Gerard, 1990. "Complexity, bounded rationality, and equilibrium: The soviet-type case," Journal of Comparative Economics, Elsevier, pages 401-424.
    3. George Garvy, 1977. "Money, Financial Flows, and Credit in the Soviet Union," NBER Books, National Bureau of Economic Research, Inc, number garv77-1.
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    Cited by:

    1. Mi, Zhou & Wang, Xiaoming, 2000. "Agency cost and the crisis of China's SOE," China Economic Review, Elsevier, vol. 11(3), pages 297-317.
    2. Buchen, Clemens, 2010. "Emerging economic systems in Central and Eastern Europe – a qualitative and quantitative assessment," EconStor Theses, ZBW - German National Library of Economics, number 37141.
    3. Johanson, Martin, 2008. "Institutions, exchange and trust: A study of the Russian transition to a market economy," Journal of International Management, Elsevier, vol. 14(1), pages 46-64, March.
    4. repec:spr:manint:v:50:y:2010:i:3:d:10.1007_s11575-010-0034-3 is not listed on IDEAS
    5. John E. Anderson, 2003. "Tax Offsets or Netting Operations in Post-Soviet Public Finance," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 39(3), pages 27-41, May.
    6. Antonio Carvalho, 2016. "Energy Efficiency in Transition Economies: A Stochastic Frontier Approach," CEERP Working Paper Series 004, Centre for Energy Economics Research and Policy, Heriot-Watt University.
    7. McDonald, David A., 2016. "To corporatize or not to corporatize (and if so, how?)," Utilities Policy, Elsevier, vol. 40(C), pages 107-114.
    8. Philippe Dulbecco & Marie-Françoise Renard, 2003. "Permanency and Flexibility of Institutions: The Role of Decentralization in Chinese Economic Reforms," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 16(4), pages 327-346, December.
    9. Akerlof, George A. & Snower, Dennis J., 2016. "Bread and bullets," Journal of Economic Behavior & Organization, Elsevier, vol. 126(PB), pages 58-71.
    10. Ericson, Richard E., 2000. "A posztszovjet gazdasági rendszer Oroszországban: ipari feudalizmus?
      [The post-Soviet economic system in Russia: industrial feudalism?]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 23-40.
    11. repec:eee:rujoec:v:2:y:2016:i:1:p:41-55 is not listed on IDEAS
    12. Klara Sabirianova Peter & Jan Svejnar & Katherine Terrell, 2012. "Foreign Investment, Corporate Ownership, and Development: Are Firms in Emerging Markets Catching Up to the World Standard?," The Review of Economics and Statistics, MIT Press, vol. 94(4), pages 981-999, November.
    13. Justin Yifu Lin & Pengfei Zhang, 2007. "Development Strategy and Economic Institutions in Less Developed Countries," CID Working Papers 17, Center for International Development at Harvard University.
    14. repec:dgr:rugsom:04g26 is not listed on IDEAS
    15. Krueger, Gary & Ciolko, Marek, 1998. "A Note on Initial Conditions and Liberalization during Transition," Journal of Comparative Economics, Elsevier, pages 718-734.
    16. John E. Anderson, 2005. "Fiscal Reform and its Firm-Level Effects in Eastern Europe and Central Asia," William Davidson Institute Working Papers Series wp800, William Davidson Institute at the University of Michigan.
    17. Nauro F. Campos & Abrizio Coricelli, 2002. "Growth in Transition: What We Know, What We Don't, and What We Should," Journal of Economic Literature, American Economic Association, pages 793-836.
    18. Yingyi Qian & Gerard Roland & Chenggang Xu, 1999. "Coordinating Changes in M-form and U-form Organizations," William Davidson Institute Working Papers Series 284, William Davidson Institute at the University of Michigan.
    19. Justin Yifu Lin & Pengfei Zhang, 2007. "Development Strategy, Optimal Industrial Structure and Economic Growth in Less Developed Countries," CID Working Papers 19, Center for International Development at Harvard University.
    20. Witteloostuijn, Adriaan van & Dikova, Desislava, 2005. "Acquisition versus greenfield foreign entry : diversification mode choice in Central and Eastern Europe," Research Report 04G26, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    21. Boettke Peter J. & Butkevich Bridget I., 2001. "Entry and Entrepreneurship: The Case of Post-Communist Russia," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 11(1), pages 1-26, March.
    22. Qian, Yingyi & Xu, Cheng-Gang, 1993. "Why China's economic reforms differ: the m-form hierarchy and entry/expansion of the non-state sector," LSE Research Online Documents on Economics 3755, London School of Economics and Political Science, LSE Library.
    23. John E. Anderson, 2014. "Informal Payments to the Tax Collector in Transition Countries," Ekonomi-tek - International Economics Journal, Turkish Economic Association, pages 1-26.
    24. John Tomer, 2002. "Intangible Factors in the Eastern European Transition: A Socio-Economic Analysis," Post-Communist Economies, Taylor & Francis Journals, vol. 14(4), pages 421-444.

    More about this item

    JEL classification:

    • P21 - Economic Systems - - Socialist Systems and Transition Economies - - - Planning, Coordination, and Reform

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