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We present new investment data and revised growth accounts for three socialist economies between 1950 and 1989 … input, or estimated capital stock from official investment data. Investment levels and rates of capital accumulations were …, declining equipment investment and labor input, contributed much more to the socialist growth failure of the 1980s than …
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A large body of literature inspired by the seminal contribution of Marglin and Bhaduri (1988) has debated the distributional determinants of demand and growth. A general conclusion has been that open economy considerations weaken the potential for a wage-led growth regime. However, this...
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