The Socialist Economies in Transition

PREFACE 1. Introduction 2. A Perfect-Administration Interpretation of the Soviet-type Economy Actors, Sectoring, Administration, and Markets in the Classic CPE What Is Administration or Management? Functions of Management Is Perfect Administration Possible? Soviet-type Economic Bureaucracies A Possible Model of Perfect Administration 3. Resource Allocation in the Classic CPE Short-run Balancing Control-Evaluating Performance and Passing Out Rewards Investment Decisions Research, Development, and Innovation 4. Market-mediated Relationships Market-mediated Relations in the Administrative-Command Economy Relations with Households Agriculture Foeign Trade 5. Financial and Macrophenomena in the Administered Economy Allocation, Efficiency, and Value under Perfect Administration Linear Programming Fundamentals Finance and Money under Perfect Administration Behavior of the Actual System: Microeconomics Behavior of the Actual System: Macroeconomics Implications for Reform 6. Growth Strategy and Growth Performance in the Socialist World Soviet Development Strategy Growth Performance Productivity Conclusions on Soviet Growth Growth in Eastern Europe The Chinese Variant 7. The Semi-reformed Economy and Its Characteristic Problems The Semi-reformed Economy Addition of New Sectors and Markets Difficulties of Coherent Decentralization through Regulators Monetary Institutions and Policy Fiscal Instruments and Fiscal Policy The Problem of Monopoly Power What Remains to Be Done 8. The Foreign Sector in the Semi-reformed Economy Tasks of the Transition Compromises and Halfway Houses in Foreign Trade 9. Property, Ownership, Privatization Theoretical Considerations Creation of New Property Institutions in the Reforms 10. The Problem of Transition and the Future of Reform Issues of the End Point Issues in the Transition Is Transformation Possible? SUGGESTIONS FOR FUTHER READING INDEX

Administration (probate law · Bureaucracy · Economic system · Economics · Economy · Market economy · Monopoly · Planned economy · Political science · Politics · Socialist economics · Russia and Soviet political economy

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