On the inefficiency of European socialist economies |
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Authors: | Laurent Weill |
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Institution: | (1) Institut d’Etudes Politiques, Université Robert Schuman, 47 avenue de la Forêt-Noire, 67082 Strasbourg Cedex, France |
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Abstract: | This paper aims at comparing macroeconomic performance of three European socialist economies (Hungary, Poland, Yugoslavia)
with developing and developed countries during the 1970s and the 1980s. Using panel data for 89 countries, we measure macroeconomic
performance with two panel data production frontier models: the WITHIN model proposed by (Cornwell et al J Econom 46:185–200,
1990), and the firm effects model developed by (Battese and Coelli J Prod Anal 3:153–169, 1992). We conclude in favor of the
underperformance of socialist countries in relation to developed countries but also to developing countries in most cases,
which may be explained by the features of the socialist economic system.
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Keywords: | Productivity Socialist system Stochastic frontier approach Growth |
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