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  • Retrospective comparisons of trends and rates of economic development of former Socialist countries and USSR republics based on the methodology of national currency purchasing power parity

Retrospective comparisons of trends and rates of economic development of former Socialist countries and USSR republics based on the methodology of national currency purchasing power parity

2009

Retrospective inter-country comparison of economic development trends is an important and relevant topic for researchers. International comparisons are made on a regular basis within the context of projects funded by international organizations, such as the UN, World Bank, OECD, IMF and EBRD. In addition to being of purely academic interest, these studies also have a practical significance related to the choice of the most efficient development model for transition economies. Due to obvious reasons, this category of economies is one of the most interesting for Russian researchers in terms of comparing development trends. 

The target of this research is the economic development trend in post-Communist countries, including member of the former USSR and Eastern European countries.

The purpose of the work is to compare the results of economic transformations and processes that took place from the 1980s for former USSR member-states and Eastern Europe countries.

International comparisons of macroeconomic indicators have the following three requirements:

  • economic content of the indicator should be unified for all countries which are  included in comparisons;
  • indicators should be expressed in the same unit;
  • if value indicators are used, prices for goods and services should be comparable.

The main method of this research is the formation and consequent comparison of a dynamic series of macroeconomic indicators from the respective countries. Comparability of a dynamic series is achieved through the using the results of international comparison programs on the basis of purchasing power parities, carried out by various international organizations in the chosen period of time.

The intended duration of the research is three years. In 2009, the first stage of the work was completed: we have worked out theoretical approaches to solving the problem, collected statistical data and carried out preliminary comparisons of development trends in the former USSR and Eastern Europe. The results of the work will provide an objective evaluation of the changes in economic development levels in the region and an adequate evaluation of their current state.

Over the next few years, we plan to compare more difficult statistical indicators from a methodological point of view and enlarge the geographic reach of the research through working with our foreign partners. We intend to make calculations not only for Russia, but also for other republics of the former USSR and European countries that used to be members of the Council for Mutual Economic Assistance (CMEA); however we expect considerable information difficulties related to isolating the data for separate subjects of federative formations (Yugoslavia and Czechoslovakia).