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The rise and decline of the Soviet economy

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  • Robert C. Allen

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.

Suggested Citation

  • Robert C. Allen, 2001. "The rise and decline of the Soviet economy," Canadian Journal of Economics, Canadian Economics Association, vol. 34(4), pages 859-881, November.
    • Handle: RePEc:cje:issued:v:34:y:2001:i:4:p:859-881
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    Cited by:

    1. Brainerd, Elizabeth, 2006. "Reassessing the Standard of Living in the Soviet Union," CEPR Discussion Papers 5525, C.E.P.R. Discussion Papers.
    2. Xhulia Likaj & Michael Jacobs & Thomas Fricke, 2022. "Growth, Degrowth or Post-growth? Towards a synthetic understanding of the growth debate," Basic Papers 2, Forum New Economy.
    3. Prof. Walter C. Ndubuisi & Mr. Alexander Solomon Oghoyone, 2022. "Russia-Ukraine Crisis: Waning of the petrodollar System and its Financial Imperative for Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(9), pages 765-776, September.
    4. Tan, Ruipeng & Xu, Mengmeng & Sun, Chuanwang, 2021. "The impacts of energy reallocation on economic output and CO2 emissions in China," Energy Economics, Elsevier, vol. 94(C).
    5. Perekhozhuk, Oleksandr, 2007. "Marktstruktur und Preisbildung auf dem ukrainischen Markt für Rohmilch," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 41, number 92322.
    6. Ann Hipp & Björn Jindra & Kehinde Medase, 2023. "Nothing new in the East? New evidence on productivity effects of inventions in the GDR," Bremen Papers on Economics & Innovation 2301, University of Bremen, Faculty of Business Studies and Economics.
    7. Brainerd, Elizabeth, 2010. "Reassessing the Standard of Living in the Soviet Union: An Analysis Using Archival and Anthropometric Data," The Journal of Economic History, Cambridge University Press, vol. 70(1), pages 83-117, March.
    8. Leandro Prados de la Escosura & Tamás Vonyó & Ilya B. Voskoboynikov, 2021. "Accounting For Growth In History," Journal of Economic Surveys, Wiley Blackwell, vol. 35(3), pages 655-669, July.
    9. Frieling, Titus, 2021. "Innovation under central planning: patenting and productivity in the GDR," LSE Research Online Documents on Economics 112938, London School of Economics and Political Science, LSE Library.
    10. Ann Hipp & Udo Ludwig & Jutta Günther, 2021. "Unable to innovate or just bad circumstances? Comparing the innovation system of a state-led and market-based economy," Bremen Papers on Economics & Innovation 2111, University of Bremen, Faculty of Business Studies and Economics.

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