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" Socialist Investment Cycles : "
by Peter Mihályi.
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BL
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| Record Number
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775111
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| Doc. No
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b595106
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| Main Entry
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by Peter Mihályi.
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| Title & Author
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Socialist Investment Cycles : : Analysis in Retrospect\ by Peter Mihályi.
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| Publication Statement
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Dordrecht : Springer Netherlands, 1992
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| Series Statement
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International studies in economics and econometrics, 27.
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| Page. NO
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(xvii, 236 pages)
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| ISBN
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9401126763
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: 9789401126762
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| Contents
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And Summary of Main Points --; 1. General Framework --; 1.1 Three schools --; 1.2 Cycles or fluctuations? --; 1.3 Socialism --; 1.4 Statistical definition of investments --; 1.5 Theory and statistical reality --; 1.6 The relevance of cycle models --; 1.7 Formalised summary --; 2. Three Schools of Thought --; 2.1 Control theory models --; 2.2 Endogenous models --; 2.3 Common elements --; 2.4 Exogenous models --; 3. Measurement of Investment Fluctuations --; 3.1 Distortion of GINV data --; 3.2 Traps of time series analysis --; 3.3 East-West comparison of GINV fluctuations --; 3.4 Synchronization of investment fluctuations --; 4. Common Patterns and Particularities --; A Historical Analysis --; 4.1 The method --; 4.2 Construction output --; 4.3 Industrial output --; 4.4 Imports --; 4.5 Standard of living --; 4.6 Domestic utilization of NMP --; 4.7 Role of the harvest and foreign credits --; 5. Closing Remarks on Measurement and Control --; 5.1 The measurement trap --; 5.2 The definition trap --; 5.3 Micro-economic conditions of measurement --; Appendix I: Two Hungarian Case Studies --; 1. The impact of investment fluctuations on the labour market --; 2. Maintenance --; capital repair --; investment --; 3. Conclusions --; Appendix II: Basic Data.
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| Abstract
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The entire world was taken by surprise when 1990 brought an end to Soviet communism in Europe and thus a genuine end to World War II. The fact that these developments surprised not only the leaders and the people of the countries concerned, but also scholars is an extraordinary challenge to the students of Soviet-type economics. In the academic world, where predictive force is one of the key indicators of a successful theory, this weak performance calls into question the validity of earlier findings and interpretations. Something was wrong in the general framework. Socialist Investment Cycles offers an explanation of this failure. Socialist Investment Cycles is the first monograph in English on investment fluctuations in planned economies, a chapter in history. While providing a broad overview of the literature on socialist investment cycles, as well as a quantitative description of the actual processes, the author puts forth a new framework for understanding investment fluctuations. In this framework socialist planners were able to adjust the volume of investments without risking the fulfillment of politically more sensitive target variables. Socialist Investment Cycles encompasses all thirty-five countries which were ruled by communism and is the first study to penetrate deeply into the data problem, country by country, and series by series. Socialist Investment Cycles has been written after the collapse of Soviet-type communism in Eastern Europe, the USSR, and the countries of Asia and Africa. It thus offers a retrospective view on both the theory and practice of socialist economies.
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Economics -- Methodology.
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Economics.
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Social sciences.
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| LC Classification
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HC704.B974 1992
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| Added Entry
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Peter Mihályi
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