Soviet National Income and Product, 1958-1962: Part II--National Income at Factor Cost and Constant Prices.

by Abraham S. Becker

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The second and concluding part of a study of Soviet national income in 1958-1962. Part I (RM-4394-PR, June 1965) presented estimates of national income at actual (or established) prices of the respective years. Part II adjusts the estimates at established prices for distortions in the Soviet price system, in effect revaluing output at factor cost, and deflates both the established-price and factor-cost estimates for changes in the general price level. The revalued data at current factor cost are discussed in terms of changes in the structure of resource use, while the estimates at constant prices serve for analysis of economic growth. The calculations are compared with official Soviet claims and with estimates of other non-Soviet studies. Some implications of the author's results are considered in relation to the problem of the slowdown of Soviet growth. The second and concluding part of a study of Soviet national income in 1958-1962. Part I (RM-4394-PR, June 1965) presented estimates of national income at actual (or established) prices of the respective years. Part II adjusts the estimates at established prices for distortions in the Soviet price system, in effect revaluing output at factor cost, and deflates both the established-price and factor-cost estimates for changes in the general price level. The revalued data at current factor cost are discussed in terms of changes in the structure of resource use, while the estimates at constant prices serve for analysis of economic growth. The calculations are compared with official Soviet claims and with estimates of other non-Soviet studies. Some implications of the author's results are considered in relation to the problem of the slowdown of Soviet growth. 216 pp. Bibliog

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