Market Forces in Planned Economies: Proceedings of a Conference held by the International Economic Association in Moscow, USSR PDF
Preview Market Forces in Planned Economies: Proceedings of a Conference held by the International Economic Association in Moscow, USSR
MARKET FORCES IN PLANNED ECONOMIES This is lEA conference volume no. 96 Series Standing Order If you would like to receive future titles in this series as they are published, you can make use of our standing order facility. To place a standing order please contact your bookseller or, in case of difficulty, write to us at the address below with your name and address and the name of the series. Please state with which title you wish to begin your standing order. (If you live outside the UK we may not have the rights for your area, in which case we will forward your order to the publisher concerned.) Standing Order Service, Macmillan Distribution Ltd, Houndmills, Basingstoke, Hampshire, RG212XS, England. Market Forces in Planned Economies Proceedings of a Conference held by the International Economic Association in Moscow, USSR Edited by Oleg T. Bogomolov M in association with the Palgrave Macmillan MACMILLAN © International Economic Association 1990 Softcover reprint of the hardcover 1s t edition 1990 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 33-4 Alfred Place, London WC1E 7DP. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. First published 1990 Published by MACMILLAN ACADEMIC AND PROFESSIONAL LTD Houndmills, Basingstoke, Hampshire RG21 2XS and London Companies and representatives throughout the world British Library Cataloguing in Publication Data Market forces in planned economies: proceedings of a conference held by the International Economic Association in Moscow, USSR. 1, Planned economies. Role of free economies 1. Bogomolov, Oleg T. II. International Economic Association 330.12/4 ISBN 978-1-349-11561-7 ISBN 978-1-349-11559-4 (eBook) DOI 10.1007/978-1-349-11559-4 Contents The International Economic Association ix Acknowledgements xi List of Participants xii Abbreviations and Acronyms xvi Introduction Oleg Bogomolov xix PART I THE THEORY OF MARKETS IN A PLANNED ECONOMY 1 The Market in the Socialist Economic System Leonid Abalkin 3 2 Product Market and Capital Market in the Light of the Experience of the Hungarian New Economic Mechanism Wfodzimierz Brus and Kazimierz Laski 16 3 The Affinity Between Ownership and Coordination Mechanisms Janos Kornai 32 Comment Aleksander M. Vacic 55 Comment Pekka Sutela 68 Comment Don Patin kin 72 v VI Contents PART II THE NEW CONCEPT OF PLANNING: INTERACTION WITH MARKETS 4 The New Concept of Planning: Interaction With Markets Zdzistaw L. Sadowski 77 5 The New Concept of Planning : Duality with Market Forces Michael Kaser 86 Note on Yugoslavia Dragomir Vojnic 95 Comment Laszlo Csaba 103 PART III COST DETERMINATION AND PRICE FORMATION 6 Reform of the Soviet Price System Morris Bornstein 111 7 Prices Under Socialism in the Light of Economic Reforms Bela Csikos-Nagy 123 Comment Karel Dyba 138 Comment Alex Nove 143 Comment Karel Kouba 149 PART IV THE ROLE OF COMMERCIAL AND NATIONAL BANKING IN A REFORMED SOCIALIST ECONOMY 8 The Role of Commercial and Central Banking : Yugoslavia A. CiCin-Sain 159 Contents vii 9 The Hungarian Banking Reform Marton Tardos 174 Comment Karl-Hans Hartwig 191 PART V INTERCONNECTIONS BETWEEN INTER NATIONAL MARKETS AND PLANNED ECONOMIES 10 Market-oriented Reform of Foreign Trade in Planned Economies Thomas A. Wolf 199 Note on Some Necessary Changes to Improve Trade of the USSR Kazimierz Laski 217 Note on Poland Urszula Plowiec 221 PART VI PLAN AND MARKET IN DEVELOPING COUNTRIES 11 Market Forces and Planning Sukhamoy Chakravarty 229 12 Market Development in Chinese Economic Reform Dong Fureng 240 Comment Tsuneaki Sato 253 Comment Cyril Lin 261 PART VII INTERNATIONAL CONSEQUENCES 13 Perestroika of the Soviet Economy in the Light of East-West Relations Oleg Bogomolov 273 viii Contents 14 International Consequences of the Economic Reforms in Planned Economies Marie Lavigne 283 Comment John P. Hardt 293 Comment Hans Schilar 299 Index of Names 305 Subject Index 309 The International Economic Association A non-profit organisation with purely scientific aims, the Inter national Economic Association (IEA) was founded in 1950. It is in fact a federation of national economic associations and presently includes fifty-eight such professional organisations from all parts of the world. Its basic purpose is the development of economics as an intellectual discipline. Its approach recognises a diversity of prob lems, systems and values in the world and also takes note of metho dological diversities. The lEA has, since its creation, tried to fulfil that purpose by promoting mutual understanding of economists from the West and the East as well as from the North and the South through the organisation of scientific meetings and common research pro grammes and by means of publications on problems of current importance. During its thirty-seven years of existence, it has organ ised seventy-nine round-table conferences for specialists on topics ranging from fundamental theories to methods and tools of analysis and major problems of the present-day world. Eight triennial World Congresses have also been held, which have regularly attracted the participation of a great many economists from all over the world. The Association is governed by a Council, composed of represen tatives of all member associations, and by a fifteen-member Execu tive Committee which is elected by the Council. The present Executive Committee (1986-89) is composed as follows: President: Professor Amartya Sen, India Vice-President: Professor Bela Csikos-Nagy, Hungary Treasurer: Professor Luis Angel Rojo, Spain Past President: Professor Kenneth J. Arrow, USA Other members: Professor Edmar Lisboa Bacha, Brazil Professor Ragnar Bentzel, Sweden Professor Oleg T. Bogomolov, USSR Professor Silvio Borner, Switzerland Professor P. R. Brahmananda, India Professor Phyllis Deane, United Kingdom ix
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