<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>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.</p></abstract>

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.

Growth Decomposition in the Socialist Czech Economy

DANUBE

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Growth Decomposition in the Socialist Czech Economy"}

Economic growth in centrally planned economies was declining with the duration of these economic systems. There were multiple reasons for this development....

Growth Decomposition in the Socialist Czech Economy

Published Online: Apr 17, 2021

Page range: 1 - 12

DOI: https://doi.org/10.2478/danb-2021-0001

Keywords
Centrally Planned Economy, Economic Growth, Extensive Growth, Intensive Growth, Czech Republic

© 2021 Marek Soukup, Libor Žídek, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Growth Decomposition in the Socialist Czech Economy

Published Online: Apr 17, 2021

Page range: 1 - 12

DOI: https://doi.org/10.2478/danb-2021-0001

KeywordsCentrally Planned Economy, Economic Growth, Extensive Growth, Intensive Growth, Czech Republic

© 2021 Marek Soukup, Libor Žídek, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Centrally Planned Economy, Economic Growth, Extensive Growth, Intensive Growth, Czech Republic