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Vol. 64, No. 4, pp. 320-337 (2013)

“Political Economy of the Failure of the Socialist Economic System —A Systematic Review—”
Akira Uegaki (Department of Economics, Seinangakuin University), Fumikazu Sugiura (Faculty of Economics, Teikyo University)

This article provides a wide spectrum of discussion on the factors of collapse of the Socialist economic system in 20 years, based on the survey of 266 articles. Our approach is to clarify the nature of each article and the interrelation between the factors affecting of the failure of Socialism. We found that articles interested in the development of Soviet Union and Russia and those of Eastern Europe have stark differences. The former is more likely to point out the failure of policies, while the latter emphasizes the other factors. Those who study Soviet and Russian economy are more eager to target external and contingent factors, but those discussing Eastern Europe tend more to raise internal factors.