• Medientyp: E-Book
  • Titel: Inter-sectoral terms of trade and investible surplus
  • Beteiligte: Fardmanesh, Mohsen [VerfasserIn]
  • Erschienen: New Haven, CT: Economic Growth Center, Yale University, September 2017
  • Erschienen in: Yale University: Discussion papers ; 1060
  • Umfang: 1 Online-Ressource (circa 32 Seiten)
  • Sprache: Englisch
  • Identifikator:
  • Entstehung:
  • Schlagwörter: Arbeitspapier ; Graue Literatur
  • Beschreibung: This paper studies the validity of the Preobrazhensky's First Proposition, P1, for the centrally planned Poland during the period of 1960-1987 by testing whether the state increased its internal accumulation, investible surplus, by reducing the inter-sectoral terms of trade between agriculture and industry. It uses an alternative bivariate approach with pair-wise cointegration and Granger causality analysis. While finding some support for P1 in Poland, it reveals that the existing multivariate empirical approach derived from the Sah-Stiglitz's market-based theoretical model of the "price scissors" problem can misrepresent not only the validity of P1 in a centrally planned economy but also the impact of the intrinsic determinants of the state's investible surplus such as the production capacities in agriculture and industry.
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  • Zugangsstatus: Freier Zugang