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Output Fall – Transformational Recession

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The New Palgrave Dictionary of Economics

Abstract

A significant decline in GDP has been a common feature in transition economies. This sharp drop in output has been seen as a surprise and puzzle to many observers. Understanding the nature of the output fall is crucial to understanding transition. Analysis is complicated by measurement issues associated with moving from plan to the market. Theoretical models of the output fall are examined, including those that see the output fall as a natural consequence of the legacies of the Soviet-type economic system.

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  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    Barry W. Ickes

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  1. Barry W. Ickes
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Ickes, B.W. (2018). Output Fall – Transformational Recession. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_2691

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