Reversing the Soviet Economic Collapse

@inproceedings{Shleifer1991ReversingTS,
  title={Reversing the Soviet Economic Collapse},
  author={Andrei Shleifer and Robert W. Vishny},
  year={1991}
}
THE SOVIET ECONOMY iS collapsing. In 1990, official gross national product had fallen 2 percent relative to 1989. By the first quarter of 1991, GNP had fallen 8 percent relative to a year earlier. Moreover, as table 1 illustrates, the decline has spread to just about every sector, from processed food, to consumer durables, to energy and agriculture. Many observers expect this decline to continue through 1991-even to accelerate. ' Such a sharp contraction is unprecedented in the postwar Soviet… 

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