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The Impact of External Shocks on Centrally Planned Economies: Theoretical Considerations

In: Structural Change, Economic Interdependence and World Development

Author

Listed:
  • Richard Portes

    (Birkbeck College
    Centre for Economic Policy Research)

Abstract

Interest in the foreign trade and finance of centrally planned economies (CPEs) is relatively recent. Until the late 1970s, even less attention was devoted to the impact of external shocks on CPEs, partly because it was thought that the planning system insulated the domestic economy from the effects of such shocks. The USSR, as the largest and most self-sufficient CPE, was thought particularly immune to influence from the foreign sector.

Suggested Citation

  • Richard Portes, 1987. "The Impact of External Shocks on Centrally Planned Economies: Theoretical Considerations," International Economic Association Series, in: Luigi Pasinetti & Peter Lloyd (ed.), Structural Change, Economic Interdependence and World Development, chapter 29, pages 409-425, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-18840-6_29
    DOI: 10.1007/978-1-349-18840-6_29
    as

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