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Estimation Of Output Loss From Allocative Inefficiency: Comparison Of The Soviet Union And The U.S

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  • WHITESELL, R.
  • BARRETO, H.

Abstract

This 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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Suggested Citation

  • Whitesell, R. & Barreto, H., 1988. "Estimation Of Output Loss From Allocative Inefficiency: Comparison Of The Soviet Union And The U.S," Center for Development Economics 109, Department of Economics, Williams College.
  • Handle: RePEc:wil:wilcde:109
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    Cited by:

    1. 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.
    2. 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.
    3. Peter Murrell, 1991. "Can Neoclassical Economics Underpin the Reform of Centrally Planned Economies?," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 59-76, Fall.

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    Keywords

    resource allocation ; industry ; efficiency;

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