Socialist Economic Development and Reforms: From Extensive by J. Wilczynski

By J. Wilczynski

Socialist fiscal improvement and reforms, from huge to in depth progress lower than imperative making plans within the USSR, japanese Europe and Yugoslavia

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Social Development in Asia

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Extra resources for Socialist Economic Development and Reforms: From Extensive to Intensive Growth Under Central Planning in the USSR, Eastern Europe and Yugoslavia

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Based on: S. Albinowski, Handel mi[Jdzy krajami o r6znych ustrojach (Trade between Countries with Different Social Systems), Warsaw, KiW, 1968, pp. 273-8; and United Nations sources: Monthly Bulletin of Statistics, Yearbook of International Trade Statistics and Yearbook of National Accounts Statistics. 2 M. Syrek, op. , p. zo8. 2§C EXTENSIVE AND INTENSIVE GROWTH 43 differentiated interest rates, especially heavy penalty rates, have been introduced to speed up the turnover of working capital and to shorten the duration of the construction of investment projects (see Chapter 9 C, pp.

CH. I §c ECONOMIC DEVELOPMENT I7 t The countries included are: Bulgaria, Czechoslovakia, the GDR, Hungary, Poland and Romania. The price weights applicable to the GDR are the German 1936 weights (equivalent to the East German 1950 weights) and to Hungary of the year 1955. t The industrial production of Bulgaria, Czechoslovakia, Hungary and Poland includes construction. Sources. A. Bergson, The Economics of Soviet Planning, Yale UP, 1964, p. 306, and The Real National Income of Soviet Russia since I928, Harvard UP, 1961, p.

Depreciation charges now apply to the projects as soon as they are completed, not when they are fully operative. Since the early 196os improved investment efficiency formulae have been commonly applied to select the most efficient projects, and industrial associations and banks have been made co-responsible with enterprises for ensuring the most effective investment policy. Larger proportions of investment are spent on working equipment rather than on the construction of buildings and new projects (for details, Chapter 10 B, pp.

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