| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP976
|
| DP976 The Empirics of Economic Growth in Previously Centrally Planned Economies |
| Mark Taylor; Edward Leamer
|
| 发表日期 | 1994-06-30
|
| 出版年 | 1994
|
| 语种 | 英语
|
| 摘要 | This paper is intended to make four main points that are relevant for previously planned economies in transition to a market economy. First, national output can be increased by reducing or eliminating relative price distortions through price reform and free trade and by thus enhancing macroeconomic efficiency at full employment. Second, the static output gain from removing a single distortion in a two-sector general equilibrium model with full employment can be captured in a simple formula in which the gain is approximately proportional to the square of the original distortion. Third, substitution of plausible parameter values into the simple formula indicates that the permanent, static output gain from structural adjustment may be large in practice. Fourth, in the end, after the economic transformation has been completed, not only will output per head be higher than initially, but it will probably grow more rapidly than before. The potential dynamic output gain from economic reform is also shown to be substantial. |
| 主题 | International Macroeconomics
|
| 关键词 | Economic growth
Efficiency
Structural adjustment
|
| URL | https://cepr.org/publications/dp976
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530115
|
推荐引用方式
GB/T 7714 |
Mark Taylor,Edward Leamer. DP976 The Empirics of Economic Growth in Previously Centrally Planned Economies. 1994.
|
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