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Economic reform in socialist countries : the experiences of China, Hungary, Romania, and Yugoslavia (Inglês)

Since the early 1950s, most countries that adopted Soviet-style central planning have attempted to reform this system. Certain commonalities stand out: a thrust toward increasing the autonomy of enterprises or subnational entitites in determining investments, wages, hiring, input purchase, product mix, and the conduct of foreign trade; reliance on the price system and financial mechanisms to guide enterprise decision making; linking earnings of managers and workers more closely to enterprise and individual performance; and recognition of a constructive role for the private sector. At the same time they have considered reform, however, these centrally planned economies have been remarkably resistant to change. Experience suggests that the success of reform depends largely on the strength of political support, the comprehensiveness and internal consistency of the reforms, the length of time they are pursued without interruption, and the availability of some economic slack. Case histories of reform in Romania, China, Hungary, and Yugoslavia are included.

Detalhes

  • Autor

    KNIGHT, P. CPD

  • Data do documento

    1983/07/31

  • TIpo de documento

    Documento de trabalho sobre o pessoal

  • No. do relatório

    SWP579

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Romênia,

    Sérvia,

    Hungria,

    China,

  • Região

    Europa e Ásia Central, Leste Asiático e Pacífico,

  • Data de divulgação

    2010/07/01

  • Nome do documento

    Economic reform in socialist countries : the experiences of China, Hungary, Romania, and Yugoslavia

  • Palavras-chave

    traditional central planning;Incremental Capital-Output Ratio;high rates of investment;abstracts of current studies;demand for investment good;increasing labor force participation;development of natural resources;centrally planned economy;means of production;domestic price;balance of payment;terms of trade;composition of output;economic reform;allocation of resource;foreign economic relation;world market price;devolution of authority;degree of competition;community of interest;economic efficiency;demand for good;cost of import;international oil price;gnp per capita;economic growth rate;economies of scale;learning by doing;shortages of labor;Balance of Trade;rate of profit;standard of living;agriculture and industry;socialist market system;factor of production;agricultural labor force;education and health;level of consumption;resistance to change;success and failure;public sector institution;local government agency;gross fixed investment;effects of corruption;Foreign Exchange Reserve;success of reform;wages and salary;agricultural producer price;availability of capital;standards of education;exchange rate system;international economic environment;freedom of choice;allocation of investment;mobilization of resource;political sphere;international market force;macroeconomic policy instrument;prices of input;foreign economic policy;flow of information;distribution of investment;foreign trade;administrative decentralization;consumer goods;Socialist countries;reform process;enterprise performance;social product;reform design;full employment;fundamental changes;material incentives;systemic reform;market mechanism;reform measure;raw material;price system;increased trade;price formation;manufactured products;investment fund;state control;Labor Market;world economy;vertical integration;physical planning;state authority;industrial activity;Exchange Rates;production level;retail price;price stability;military power;industrial association;industrial good;enterprise autonomy;communist party;living standard;traditional model;financial mechanism;Industrial Goods;foreign market;International Trade;enterprise behavior;administrative control;internal market;consumer price;agricultural product;home country;primary cause;state sector;domestic supply;financial reward;gradual change;retained earnings;Socialist economies;financial penalty;price formula;world price;oil producer;wage system;net outflow;efficient mechanism;national economy;gross value;economic integration;international indebtedness;net import;personal income;competitive condition;investment finance;productive efficiency;political environment;common denominator;political pressure;industrial growth;financial plan;agricultural employment;oil importer;safety valve;distribution enterprise;political consideration;profit sharing;governing investment;socialist state;bureaucratic obstacle;price index;home countries;private market;reserve capacity;control of costs;relative price;state enterprises;penalty system;heating fuel;adverse consequence;mass transportation;price signal;production decision;enterprise efficiency;real income;administrative action;administrative hierarchy;smaller one;investment allocation;economic model;price change;production method;financial discipline;entrepreneurial skill;interest group;international reserve;import competition;profit maximization;industrial base;technological development;after-tax profit;open unemployment;social group;external trade;financial flow;piecemeal reforms;decentralized system;wage expenditure;managerial incentive;factor market;unprofitable enterprises;construction material;national product;shop steward;elected representative;accounting roles;social objective;wage policy;rational use;scarce resource;regional inequality;constituent elements;incentive mechanism;macroeconomic balance;profit tax;industrial sector;support measure;incentive effect;administrative order;mixed economy;state farm;price reform;industrial enterprise;geographic region

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