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- Title
The Dynamics of Inflation and Capital Accumulation in Previously Centrally Planned Economies: A Theoretical Framework.
- Authors
Milesi-Ferretti, Gian Maria
- Abstract
The article focuses on the problems related to corporate governance of state enterprises in former communist economies. It also discusses about excess in wage claims, capital decumulation, links between wage behavior, fiscal deficit, inflation, and capital stock. During the transition to a market economy, the behaviour of state-owned firms may not be in the best interest of the owner but may instead reflect workers' and managers' efforts to redistribute resources to themselves, to the detriment of government revenue from profits, as well as the level of investment.
- Subjects
CORPORATE governance; CORPORATE directors; COMMUNIST countries; ECONOMIC history; WAGES; PROXY solicitation
- Publication
Economica, 1995, Vol 62, Issue 248, p441
- ISSN
0013-0427
- Publication type
Article
- DOI
10.2307/2554670