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| Tekijä: | Hernandez-Cata, E. |
| Otsikko: | Liberalization and the behavior of output during the transition economies |
| Lehti: | Staff Papers
1997 : DEC, VOL. 44:4, p. 405-429 |
| Asiasana: | OUTPUT PLANNING MARKETING |
| Kieli: | eng |
| Tiivistelmä: | This paper deals with liberalization and the evolution of output during the transition from plan to market. It explains why strong liberalization leads to a comparatively steep fall in output early in the transition, but a relatively strong recovery later on. Because it takes time to restructure the capital stock inherited from the old system, liberalization initially leads to transition unemployment of capital and the contraction of the old enterprise sector. |
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