The Bank releases a ten-page report answering three questions regarding the growth of the Soviet economy.
While the Soviet Union sent delegates to the 1944 Bretton Woods conference, it ultimately decided not to join the World Bank or IMF. The Bank, however, was mindful of the Soviet Union's development and its potential impact on the world's economy. In 1959, the Bank releases a ten-page report on the economic situation in the Soviet Union. The report is intended to be used as a starting point for a more thorough and detailed investigation into Soviet economic growth. The report looks at the industrial growth of the Soviet Union based on both Soviet and Western estimates. The report also focuses on the growth of the Soviet national income, the standard of living, and resource allocations and patterns of investment.
The report contains a brief summary of literature on Soviet economic growth.
While the Soviet Union sent a delegation to the Bretton Woods conference, the country elected not to join (1806802; Credit: U.S. Office of War Information in the National Archives).
Bank staff member Clarke Kinney discusses Russia's decision to not become a member of the World Bank (369i).