THE MACROECONOMIC CORRELATES OF INVESTMENT GROWTH IN THE SOVIET-UNION

Several relationships between the cyclical fluctuations of selected macroeconomic variables and cyclical fluctuations of investment growth in the Soviet Union are revealed by this study. As an example, in the Soviet Union there is a tendency towards relatively strong growth of selected construction sector variables during years of relatively high investment growth. Further, a year of relatively high investment growth tends to follow a year of relatively high growth in the volume of unfinished construction. Cyclical fluctuations in the growth of heavy industrial output and investment growth are unrelated in the Soviet Union. However, during years of relatively high investment growth, the Soviet Union tends to maintain relatively high growth in machinery and equipment imports from both socialist and non-socialist economies and relatively low growth in machinery and equipment exports to non-socialist economies. © 1990, Taylor & Francis Group, LLC. All rights reserved.