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Unformatted text preview: the former is adequate to explain the economy of the Soviet Union and the latter is necessary to describe the economy of Japan, between 1950 – when both had high saving and investment, and 1990 – as the Soviet economy imploded and the Japanese growth decelerated. [Keeping in mind that one case maybe characterized as isolated growth under the terminal impact of creative destruction , while the other has to be described under interdependent development, with an exhaustible technology backlog ] (4) (10%) how – over the period of 1950-1990 – does an inward-looking, open economy compare against (a) Japan, an outward-looking open economy , and (b) Soviet Union, a closed economy , judging from enjoying technology spill-over, or facing the threat of creative destruction (like accumulating equipment in obsolete technology, for goods of outmoded designs). Econ 4730 F 2008 (10/6/2008) Take Home Part A...
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This test prep was uploaded on 02/20/2009 for the course ECON 4730 taught by Professor Henrywan during the Fall '08 term at Cornell.
- Fall '08