Hostname: page-component-7b7567c8c-tnzcf Total loading time: 0 Render date: 2026-11-13T07:20:43.052Z Has data issue: false hasContentIssue false

Attack on protectionism in the Soviet Union? A comment

Published online by Cambridge University Press:  22 May 2009

Jerry F. Hough
Affiliation:
Professor of Political Science at Duke University, Durham, North Carolina, and a Fellow at the Brookings Institution, Washington, D.C.
Get access

Extract

Unlike the other countries in what we tend to call “the Soviet bloc,” the Soviet Union benefited financially from the oil crises of the 1970s, for it was a major petroleum and natural gas exporter. The oil crises also benefited the Soviet Union indirectly as a number of radical Third World oil producers acquired money to buy more Soviet arms. Moreover, the windfall increase in petroleum prices was supplemented by a similar windfall increase in the price of the other major Soviet export product, gold. The subsidies that the Soviet Union provided to Eastern Europe did not entail any sacrifice of resources that had been previously committed but required only that it forgo even greater gains. The politics underlying the Soviet decisions were the politics underlying the rapid expansion of export earnings.

Information

Type
3. Economic Strategy inside the CMEA
Copyright
Copyright © The IO Foundation 1986

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Article purchase

Temporarily unavailable