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The Experience of Industrialization under NEPand Its Application in the Current Conditions

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Abstract

The article refutes popular belief about the necessity to abolish the New Economic Policy (NEP) of the 1920s for the purpose of industrialization. It is shown that it started successfully under NEP although due to a number of reasons the efficiency of the investments was low. The abolishment of NEP was caused not by the necessity to accelerate the industrialization but by the wrong policy towards the agriculture that stopped the development of farms. The article analyzes the discussion about possible rates of the domestic capital formation. In the course of this discussion, the sensible approach to finding the optimal size of investments depending on their efficiency was offered. This approach is still relevant today.

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  • Y. Goland, 2013. "The Experience of Industrialization under NEPand Its Application in the Current Conditions," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 10.
    • Handle: RePEc:nos:voprec:y:2013:id:583
    DOI: 10.32609/0042-8736-2013-10-109-135
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