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Reply to Brendan Beare

Author

Listed:
  • William Easterly
  • Stanley Fischer

Abstract

This is our reply to Brendan Beare’s comment on our paper. While we find his criticism to be both valid and helpful, a modified version of our original model still confirms that a low elasticity of substitution between capital and labor doomed the Soviet strategy of extensive growth through capital accumulation.

Suggested Citation

  • William Easterly & Stanley Fischer, 2008. "Reply to Brendan Beare," Econ Journal Watch, Econ Journal Watch, vol. 5(2), pages 145-147, May.
    • Handle: RePEc:ejw:journl:v:5:y:2008:i:2:p:145-147
    as

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    References listed on IDEAS

    as
    1. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 2.
    2. Easterly, William & Fischer, Stanley, 1995. "The Soviet Economic Decline," The World Bank Economic Review, World Bank, vol. 9(3), pages 341-371, September.
    3. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 3.
    4. Brendan K. Beare, 2008. "The Soviet Economic Decline Revisited," Econ Journal Watch, Econ Journal Watch, vol. 5(2), pages 135-144, May.
    5. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 3.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Economic growth; Soviet economy; extensive growth;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • N14 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Europe: 1913-

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