Socialist Economics: The Disequilibrium School and the Shortage Economy

Brabant, Jozef M. van

doi:10.1257/jep.4.2.157

Cited by 59 publications

(16 citation statements)

References 13 publications

(11 reference statements)

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“…The penetration level for basic telephone services may also be a result of supply shortages and excess demand which often hinder telephone adoption (van Brabant, 1990 Finally, we believe that although telephones and cell phones provide similar services, telephone and cell phone adoption processes for LAC nations are not identical in terms of speed. Cell phones are adopted more rapidly than telephones.…”

Section: Hypothesis H4: For Both Telephone and Cell Phone Adoption Tmentioning

confidence: 94%

An Empirical Study on Telecommunication Product Adoption in Latin America and the Caribbean

Bagchi

Solis

Gemoets

2003

E J Info Sys Dev Countries

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This study discusses some empirical findings on telephone and cell phone adoptions in Latin American and Caribbean nations. Exhaustive fixed-effect pooled regressions are undertaken for this set of nations, using data from the World Bank for the period 1989-1999. The results show that telephone and cell phone adoption processes are different in nature. Moreover, diffusion is established to be a major factor in both telephone and cell phone adoptions in the region. Economic conditions as well as privatization also positively impact the adoptions.

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Section: Hypothesis H4: For Both Telephone and Cell Phone Adoption Tmentioning

confidence: 94%

An Empirical Study on Telecommunication Product Adoption in Latin America and the Caribbean

Bagchi

Solis

Gemoets

2003

E J Info Sys Dev Countries

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“…It reproduced the clear delimitation between enterprise and household monetary circuits established in socialist planning. The only flaw that the shortage school later identified in the disequilibrium treatment referred to the neutrality of enterprise money (Van Brabant, 1991). Indeed, if under soft budget constraints, enterprises were overbidding for all types of resources, then wage bills would always tend to exceed planned targets, further feeding excess demand (Kemme, 1989).…”

Section: Moneymentioning

confidence: 99%

The Road to Financialization in Central and Eastern Europe: The Early Policies and Politics of Stabilizing Transition

Gabor

2012

Review of Political Economy

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Narratives of macroeconomic stabilization played an important part in the financialization of the formerly planned economies. The excess demand narrative, one of the least contested 'problems' of post-socialist transformation, shaped central banks' liquidity policies and thus translated the priorities of financialized capitalism into policy goals and practices. The paper challenges the boundaries of the debates on post-socialist economic developments, contextualizes the representation of the stabilization 'problem' in those debates and reinterprets them from the standpoint of financialization. If the excess demand narrative is treated as a contested account of the stabilization 'imperative', its role as catalyst for the financialization of the banking sector and the shift to impatient finance becomes apparent. An alternative approach to stabilization is further outlined, drawing on institutionalist conceptualizations of the role of money in capitalist production.

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“…Since the mid-1970s, the 'Disequilibrium School' advanced by his colleagues (1978 to 1989) and the 'Shortage School' represented by Komai (1980Komai ( , 1982Komai ( , 1986 have attracted substantial interest. They have been surveyed by Davis & Charemza (1989) and reviewed by Brabant (1990). In ' A Study of the Soviet Economy' by the IMF, the WB, the OECD and the EBRD (PMF et ad., 1991), the two schools are distinguished by the method of defining the concept of aggregate excess demand in the presence of many goods and price controls.…”

Section: Disequilibrium or Shortage?mentioning

confidence: 99%

Control or Decontrol? Theoretical arguments for policy making in transition

Yang¹

1996

International Review of Applied Economics

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After a period of reform of the CPE model, some fundamental issues remain interesting, such as how to treat markets and planning, and how to reform. The historical debates between the 'Disequilibrium School' and the 'Shortage School' have never been clearly concluded. The chronic-excess-demand hypothesis has by no means been shown to be correct. Some literature overlooks the important differences between CPEs and RCPEs in terms of the nature and functioning of economic institutions. Actually, financial crisis in CPEs and RCPEs are outcomes of a set of complex factors, notably the decontrolling of the financial and banking systems. To address the extreme importance of financial control in transition, econometrics still looks not so powetful.

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Socialist Economics: The Disequilibrium School and the Shortage Economy

Cited by 59 publications

References 13 publications

An Empirical Study on Telecommunication Product Adoption in Latin America and the Caribbean

An Empirical Study on Telecommunication Product Adoption in Latin America and the Caribbean

The Road to Financialization in Central and Eastern Europe: The Early Policies and Politics of Stabilizing Transition

Control or Decontrol? Theoretical arguments for policy making in transition

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