Abstract
This paper aims at comparing macroeconomic performance of three European socialist economies (Hungary, Poland, Yugoslavia) with developing and developed countries during the 1970s and the 1980s. Using panel data for 89 countries, we measure macroeconomic performance with two panel data production frontier models: the WITHIN model proposed by (Cornwell et al J Econom 46:185–200, 1990), and the firm effects model developed by (Battese and Coelli J Prod Anal 3:153–169, 1992). We conclude in favor of the underperformance of socialist countries in relation to developed countries but also to developing countries in most cases, which may be explained by the features of the socialist economic system.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
