Investment activity in the Soviet Union is presently undergoing a
decline hitherto unknown in the history of the nation: The growth
of capital investment has stopped, while levels of production have
fallen. One important factor in this phenomenon is the Soviet
policy of reindustrialization-shifting new investments into the
expansion and improvement of existing facilities-which severely
limits capital available for new construction. In this book, Dr.
Rumer examines current Soviet investment policies and assesses
their impact on economic development, especially in Siberia.
Reindustrialization is intended to combine more rapid amortization
for updating and retooling, growth in the volume of industrial
output, and minimal capital investment. However, concludes Dr.
Rumer, this investment pattern hinders the development of Siberia
and thus reinforces the spatial polarization of fuel-energy and
raw-material resources in the east of the country and the
manufacturing industry in the west, with serious consequences for
Soviet strategic/military vulnerability and for the Soviet economy.
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