The Soviet market for inventions: the case of jet propulsion, 1932 to 1944
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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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)|
|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|
|Number of Pages:||54|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
This draft 18 June, 2001
|Funder:||Leverhulme Trust (LT), British Academy (BA), University of Warwick|
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