From the perspective of Stalinism and Western liberal economics; prospects for a successful transition to a market economy. Published in association with the Institut für die Wissenschaften vom ...Menschen, Vienna.
CYCLE AND REPLACEMENT KOVÁCS, J.; TARJÁN, T.
Acta oeconomica,
01/1988, Letnik:
39, Številka:
3/4
Journal Article
Recenzirano
The article raises the problem how the growing demand or replacement affects the stability of investment. The question is topical because depreciation within gross investment has become preponderant ...in the Hungarian economy in the eighties. The authors prove that in the case of a stern-heavy distribution of investment, when the bulk of investment projects are realized towards the end of the investment period, this surely takes place along an unstable path, while the fact that the distribution of investment is stem-heavy, that is, the projects are implemented in bulk in the first half of the period, is only a necessary but insufficient condition of the stability of the investment path. The growth of replacements makes the investment path unstable sooner or later. Presumably, this also has unfavourable impacts on the growth path itself.
