Growth and inflation in the Soviet economy

by Fyodor I. Kushnirsky

Publisher: Westview Press in Boulder

Written in English
Cover of: Growth and inflation in the Soviet economy | Fyodor I. Kushnirsky
Published: Pages: 319 Downloads: 920
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  • Soviet Union.,
  • Soviet Union


  • Industrial productivity -- Soviet Union.,
  • Inflation (Finance) -- Soviet Union.,
  • Machinery industry -- Soviet Union.,
  • Industries -- Soviet Union -- Case studies.

Edition Notes

StatementFyodor I. Kushnirsky.
SeriesWestview special studies on the Soviet Union
LC ClassificationsHC340.I52 K88 1989
The Physical Object
Paginationix, 319 p. ;
Number of Pages319
ID Numbers
Open LibraryOL2057354M
ISBN 100813377005
LC Control Number88036274

After Stalin took charge, the Soviet economy struggled with inflation for two decades, until a currency reform in finally established a stable monetary system based on fixed prices. Although price controls prevented inflation, they also created persistent shortages of food and. To Foundations of Soviet strategy for economic growth book the authors, "This is a study in economic history, designed to identify the economic policies and practices, launched at the end of the s, that have gradually brought the U.S.S.R. to its present unenviable state." Economics as studied by economists, not politics or culture, forms the. But this approach to the psychology of inflation assumes a long and continuous period of inflation that will go on indefinitely in the future; it is based on inflation as a "given." Our concern here is with the non-economic causes of inflation, and in particular the moral problems that prompt government to increase the quantity of money.   By , these developments had created both high inflation and major recession for the Russian economy. The International Monetary Fund (IMF, ), Gurvich and Prilepskiy (), Mau and Ulyukaev (), and Mau () examined how these various crisis-related events have affected Russia’s overall economy, while Golikova and Kuznetsov.

The focus of this book is on the Japanese economic bureaucracy, particularly on the famous Ministry of International Trade and Industry (MITI), as the leading state actor in the economy. Although MITI was not the only important agent affecting the economy, nor was the state as a whole.   If the Federal Reserve is going to spike the money supply most massively in the context of minimal economic growth, as it has since , it would seem that a severe price inflation must ensue.   In spite of the obvious differences betewen the Soviet and U.S. economies there are disconcerting parallels between the systemic roots of their respective crises (USSR in s and USA today).USSR's stalling GDP growth, growing 'defence' budget and balooning budget deficits ultimately led to currency debasement and high inflation. There's every likelihood that U.S. dollar will. ECONOMIC GROWTH, SOVIET. During the first decade of Soviet rule and up to , the Soviet economy struggled to recover from the damages of World War I, the Revolution, and the civil war, and then to find its way through policy zigzags of the young and inexperienced Soviet is commonly accepted that during this decade of the s the Soviet economy more or less managed .

Reversing the Soviet Economic Collapse THE SOVIET ECONOMY iS collapsing. In , official gross national Year inflation growth growth growth inflation 5. a comparison of the us and soviet economies: evaluating the performance of the keywords: economic analysis, soviet analysis, soviet economic analysis created date: 8/31/ am. Abstract. Chapter 3 analyzes the real side of the Soviet economic development, focusing on long-term productivity growth. Given the simple structure of the Soviet monetary economy, productivity almost directly reflected how efficiently funds were utilized. But there is no discussion on just what economic problems the Soviet leadership was trying to solve. One might logically assume that there were probably several issues: slowing growth in the economy, poor labor productivity, huge wastage of materials and resources in Reviews:

Growth and inflation in the Soviet economy by Fyodor I. Kushnirsky Download PDF EPUB FB2

Growth and inflation in the Soviet economy. Boulder: Westview Press, (OCoLC) Online version: Kushnirsky, Fyodor I. Growth and inflation in the Soviet economy. Boulder: Westview Press, (OCoLC) Document Type: Book: All Authors / Contributors: Fyodor I Kushnirsky.

Economic Evaluation of Soviet Socialism examines the economic achievements of Soviet socialism from a variety of perspectives. The Soviet Union's failure to eliminate inflation and its implications for the economy are considered in comparison to a capitalist developed or industrializing economy.

Initial Period of Rapid Growth. At first, the Soviet Union experienced rapid economic growth. While the lack of open markets providing price signals and incentives to direct economic.

Russia’s Soviet era was distinguished not by economic growth or human development, but by the use of the economy to build national power.

On the centenary of the Bolshevik revolution ofthis column shows that while the education of women and better survival rates of children improved opportunities for many citizens, Soviet Russia was a tough and unequal environment in.

Employment and Economic Performance: Jobs, Inflation, and Growth By Jonathan Michie; John Grieve Smith Oxford University Press, Read preview Overview Search for more books and articles on inflation.

The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial highly centralized Soviet-type economic planning was managed by the administrative-command Soviet economy was characterized by state control of investment, a dependence on natural resources, shortages, public ownership of industrial.

If the isolation of the Soviet system from world trade and competition has retarded the economy and distorted its parts, then the Soviet Union must open itself to the world, and learn from it and. Questions such as whether the Soviet economy may have been able to obviate the traditional undesirable consequences of inflation are addressed.

The growth of the economy and of important macroeconomic aggregates, such as national income, industrial production, and consumption, is also analyzed. The remaining chapters focus on economic.

A complete introduction to economics and the economy taught in undergraduate economics and masters courses in public policy. CORE’s approach to teaching economics is student-centred and motivated by real-world problems and real-world data.

The Soviet Union as military giant and economic weakling. Henry S. Rowen. dollar earlier economic economist edited by Henry effect Epstein establishment estimates example extend followed Gorbachev Government growth Hoover Institution Impoverished Superpower improved income increase industry inflation influence About Google Books.

Nevertheless, chronic inflation is a serious drag on the Soviet economy, taking the form of shortages, long consumer lines, pervasive economic inefficiency and widespread corruption. attempts to initiate real and lasting reform to the Soviet economy, Miller argues in chapter seven, resulted in a paralyzed political sphere, lack of any real change, and increasing inflation as the state struggled to stay afloat, treading water by printing money instead of addressing the real economic problems of the day.

‘As. Economic growth, inflation, and unemployment are the big macroeconomic issues of our time. Inflation and unemployment are closely related, at least in the short-run.

Economic issues were the cornerstone of soviet ideology and the soviet system, and economic issues brought the whole system crashing down in This book is a record of what happened, and it is also an analysis of the failure of Soviet economics as a concept. Nove, A. () Inflation in communist countries, in Political Economy and Soviet Socialism, Allen and Unwin, London, – Google Scholar Nove, A.

(a) A note on growth. GNP: approximately $2, billion, per capita $9,; real growth rate - % to - % ( est. based on a reconstruction of official Soviet statistics); note--because of the continued unraveling of Soviet economic and statistical controls, the estimate is subject to even greater uncertainties than in earlier years; the dollar estimates most.

The authors of a new book assert that we could see a surge in inflation, quite likely more than 5 per cent, or even on the order of 10 per cent in the former Soviet empire and other. By the end of the s, the economy was in a shambles—shortages of food, massive budget debts, and immense growth in money supply led to inflation.

The dissolution of the Soviet Union followed in as a result of economic and political turmoil along with social unrest, which had proven too much for the once mighty Soviet Union.

The linkage between inflation and economic growth has been the subject of considerable interest and debate. The 18 papers included in this volume comprise the proceedings of a conference on inflation and growth in China that brought together academics, officials and IMF staff members.

The papers edited by Manuel Guitián and Robert Mundell, examine issues in international exeperiences with. Economic growth per se does not cause inflation, but growth of spending beyond growth of productive capacity does become inflationary. For the U.S.

economy insome inflation. The description of the economic system, which precedes the histori-cal account, makes the book self-contained and a good textbook for undergraduate classes.

References: Hanson, Philip, “The CIA, the TsSU and the Real Growth of Soviet Investment,” Soviet Studies, 36 (4), October After the collapse of the Soviet Union in and collapse of Russia's controlled economy, a new Russian Federation was created under Boris Yeltsin in The Russian Federation had multiple economic reforms, including privatization and market and trade liberalization, due to collapse of the economy is much more stable compared to the early s, inflation still.

Macroeconomics: Inflation, Unemployment and Economic Growth by Noordin Jella (Author) ISBN ISBN Why is ISBN important. ISBN. This bar-code number lets you verify that you're getting exactly the right version or edition of a book. Few people today wonder why the Soviet Union's economy collapsed in the s.

The answer seems simple: communism didn't work. But of course, the issue isn't as simple as all that. After all, the Soviet economy had sputtered along for over 60 years with little sign of disintegration, only stagnation/5(8).

Get this from a library. Price liberalization, money growth, and inflation during the transition to a market economy. [Ernesto Hernández-Catá; International Monetary Fund.

African Department.] -- This paper examines the behavior of consumer prices during the transition from plan to market in the countries of Central and Eastern Europe and the former Soviet Union from to Although official Soviet figures show nearly 3 percent growth in industrial production for the first half ofthey ignore inflation.

The Soviet government has quietly admitted to a 2 to 4. Inflation: Causes, Costs, and Current Status Congressional Research Service 3 Reserve cannot force too much money on the economy. Inflation, then, cannot be a case in which.

In the s and s, the economies of China, the former Soviet empire and other developing countries opened up. The Uruguay Round was agreed, which led to the birth of the World Trade Organization, to which China acceded in International.

The influence of changes in broad money growth on future inflation is considerably weaker and more protracted as the new economic environment in Russia has become more stable. Our evidence suggests that the systematic pattern for money–price relationship is fading in. Overview: General Secretary Gorbachev's program of economic restructuring--perestroika--has been slowly implemented and by mid had led to no discernible improvement in economic growth rates.

In the economy grew by %, little better than the poor performance of Industrial output rose by %, about average for the post-Brezhnev. The U.S. essentially has two weapons in its arsenal to help guide the economy toward a path of stable growth without excessive inflation: monetary .Inflation is when most prices in an entire economy are rising.

But there is an extreme form of inflation called hyperinflation. This occurred in Germany between andand more recently in Zimbabwe between and In November ofZimbabwe had an inflation rate of billion percent.In this module, we consider how the AD/AS model illustrates the three macroeconomic goals of economic growth, low unemployment, and low inflation.

Growth and Recession in the AD/AS Diagram. In the AD/AS diagram, long-run economic growth due to productivity increases over time will be represented by a gradual shift to the right of aggregate supply.