<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

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{"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 rates (%)	1971–1975	1976–1980	1981–1985	1986–1990	All periods average
GDP	4.94	2.81	0.93	1.91	2.65
GDP plan	5	5	1.5−2.1	3.2
Labour	0.48	0.74	0.52	−0.21	0.39
Labour productivity	4.44	2.06	0.40	2.13	2.26
Labour prod. plan	4.75	4.55	1.4−2	2.9
Capital	9.69	1.98	−3.02	1.81	2.61
TFP	−0.41	1.41	2.55	1.33	1.22
Shares (%)*
Extensity	65.96	58.89	51.18	47.63	56.44
Intensity	34.04	41.11	48.82	52.37	43.56

Growth Decomposition in the Socialist Czech Economy

Publié en ligne: 17 avr. 2021

Pages: 1 - 12

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

Mots clés
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.

Figure 1

Figure 2

Figure 3

Figure 4

Summary of the data and results (with five-year plans)

Growth Decomposition in the Socialist Czech Economy

Publié en ligne: 17 avr. 2021

Pages: 1 - 12

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

Mots clésCentrally 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.

Figure 1

Figure 2

Figure 3

Figure 4

Summary of the data and results (with five-year plans)

Mots clés
Centrally Planned Economy, Economic Growth, Extensive Growth, Intensive Growth, Czech Republic