Investment and Innovation--The Experience of Three Reforms

Formerly one of the basic assumptions of planned economy was the demand that all important investments of a national economy be evaluated and directly controlled by a national center. However, experience showed that this system hinders technological development. One indicator of the degree to which the old system has been deserted is how good the new conditions are for innovation in the production process and the product profile. The author compares practices in three countries, in order to determine to what degree the background of enterprise investment and innovation has changed. ABSTRACT FROM AUTHOR Copyright of Eastern European Economics is the property of M.E. Sharpe Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts)