Contest between countries

1937–1986

Datos Bibliográficos

ID11601749
AutoresEva Ehrlich (Institute of World Economics, autor de correspondencia)
Año1991
Volumen43
Número5
Páginas875-896
Fecha de publicación1991-01-01
Peer ReviewedSí
Open AccessNo
TipoARTICLE
RevistaSoviet Studies (JOURNAL)
Identificadores de la revistaISSN: 0038-5859
EditorialRoutledge (PUBLISHER • GB)
DOI10.1080/09668139108411969
OpenAlexW2039050456
IdiomaEN
Citas recibidas5
Referencias citadas6

THERE ARE TWO BASIC METHODS for the comparison of development levels of two or more countries. One is the repricing method based on synthetic value indicators. This is the method employed by the International Comparison Project (ICP). Since repricing comparisons are work-, cost- and time-intensive and can therefore only rarely be undertaken, in the late 1950s simplified, so-called short-cut methods1 appeared, which require far less apparatus, are cheaper and give results more rapidly. One such short-cut method is our method of physical indicators (MPI). The essence of the method of physical indicators The MPI was invented by Ferenc Jinossy in the late 1950s.2 I participated in the work as a young economist. Comparison of planned economies with market economies was hampered at that time (and partially still is hampered) by three circumstances. The first difficulty was that planned economies did not compute GDP.3 The second was that planned economies had no convertible currency, and even today only Yugoslavia has. The third was that relative prices in these countries differ to varying degrees but substantially from equilibrium ones. A new method had to be found for the comparison of development levels of planned and market economies which would bypass these difficulties. MPI is built on heuristic regressions between productive and personal consumption, stock-type physical indicators and per capita GDP in market economies. Regressions established for individual physical indicators then make it possible to estimate GDP for countries for which only physical indicators are known

CONTEST · Political science · Global Financial Crisis and Policies