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Growth Decomposition in the Socialist Czech Economy

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ŽÍDEK Libor SOUKUP Marek

Rok publikování 2021
Druh Článek v odborném periodiku
Časopis / Zdroj DANUBE: Law and Economics Review
Fakulta / Pracoviště MU

Ekonomicko-správní fakulta

Citace
www https://www.sciendo.com/article/10.2478/danb-2021-0001
Doi http://dx.doi.org/10.2478/danb-2021-0001
Klíčová slova Centrally Planned Economy; Economic Growth; Extensive Growth; Intensive Growth; Czech Republic
Popis Economic growth in centrally planned economies was declining with the duration of these economic systems. There were multiple reasons for this development. Deeper insight can be provided by dividing economic growth into extensive and intensive parts. The goal of this article is to estimate the share of extensive and intensive aspects of economic growth in the socialist Czech economy in the last two decades of the socialist era (1970–1989). We conclude that the extensive growth in this period stood for approximately 55% of the overall growth. This figure is broadly twice higher than comparative numbers for the post-communist period.
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