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The Soviet market for inventions: the case of jet propulsion, 1932 to 1944
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Harrison, Mark (2001) The Soviet market for inventions: the case of jet propulsion, 1932 to 1944. Working Paper. Coventry: University of Warwick, Department of Economics. Warwick economic research papers (No.605).
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Abstract
The paper outlines the problem of aviation jet propulsion in the interwar period and World War II and analyses Soviet progress towards a solution using newly available archival documentation. Soviet R&D commitments were influenced by long–term security motivations and the need to invest in local tacit knowledge. The scale and diversity of the Soviet R&D effort is described. The allocation of resources resulted from R&D agents’ horizontally organised market–like interactions within a vertically organised command system. Financing decisions were made in a context of asymmetric information, adverse selection, and opportunism. Overall funding was rationed; budget constraints on individual projects were soft, but were periodically hardened. In addition to decisions to finance and refinance or terminate projects, takeovers and mergers took place in a secondary asset market. There is evidence of rent–seeking activity, but where rent–seeking was detected it was punished.
Item Type: | Working or Discussion Paper (Working Paper) | ||||
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Subjects: | T Technology > TL Motor vehicles. Aeronautics. Astronautics | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Jet engines -- Soviet Union, Research and development projects -- Soviet Union, Research, Industrial -- Costs, Soviet Union -- Economic conditions | ||||
Series Name: | Warwick economic research papers | ||||
Publisher: | University of Warwick, Department of Economics | ||||
Place of Publication: | Coventry | ||||
Official Date: | 18 June 2001 | ||||
Dates: |
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Number: | No.605 | ||||
Number of Pages: | 54 | ||||
Status: | Not Peer Reviewed | ||||
Access rights to Published version: | Open Access (Creative Commons) | ||||
Description: | This draft 18 June, 2001 |
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Funder: | Leverhulme Trust (LT), British Academy (BA), University of Warwick |
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