Download or read book Inflation Stabilization and Economic Transformation in Poland written by Mr.Timothy D. Lane and published by International Monetary Fund. This book was released on 1991-07-01 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the experience of 1990, the first year of Poland’s program of stabilization and reform. The background is described, including previous reform efforts and the crisis of the late 1980s. Then the various elements of the program are discussed, including fiscal adjustment, wage controls, the possibility of an initial liquidity overhang, the exchange rate anchor, and structural reforms. The initial results of the program are assessed, and alternative explanations of the decline in output are considered.
Download or read book Inflation Stabilization and Economic Transformation in Poland written by Timothy Lane and published by . This book was released on 2006 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the experience of 1990, the first year of Poland`s program of stabilization and reform. The background is described, including previous reform efforts and the crisis of the late 1980s. Then the various elements of the program are discussed, including fiscal adjustment, wage controls, the possibility of an initial liquidity overhang, the exchange rate anchor, and structural reforms. The initial results of the program are assessed, and alternative explanations of the decline in output are considered.
Download or read book Hyperinflation and Stabilization in Postsocialist Economies written by G.W Kolodko and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: One would think states and peoples have had so many bad experiences with inflation that politicians at the helm of these states would do everything within their power to avoid inflation and, in particular, its very intensive shape, i. e. hyperinflation. However, this has not been the case. After the big inflations of the twenties and the post-war inflations of the fourties, we still witness intensive, economically, socially and politically extremely painful inflationary processes. And the eighties will be particularly engraved in history as a period in which the inflation has assumed an exceptionally dynamic character with respect to some countries. This regards, in the first place, Latin America, but not exclusively. Not without reason -as will be of particular intensity has also affected shown in this book -inflation countries which, according to the passed economic doctrine, were supposed to be completely immune from this economic illness. Most generally, the inflation can be assumed to be a uniform phenomenon which, in each case, can be described by a single, universal definition, while being divided into a number of forms and types distinguishable according to their original and secondary sources, their mechanisms, the ways of their manifestation as well as to their effects and the methods of counteracting them.
Download or read book The Polish Economy written by Ben Slay and published by Princeton University Press. This book was released on 2014-07-14 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1989, Poland became the first Eastern Bloc country to shake off the dominance of its ruling Communist party. Although other post-Communist countries have since followed suit, Poland's experience has been unique in its move to Westernize. In this timely and insightful account, Ben Slay provides the first integrated, comprehensive assessment of Poland's economic transformation from central planning to a market system, and the political and sociological factors that have contributed to it. Drawing on the work of Western and Polish scholars as well as his own research, Slay traces the evolution of the Polish transformation from its historical roots in People's Poland and predicts potential problems and successes facing the Polish economy. A ground-breaking addition to the emerging study of post- Communist political economies, The Polish Economy demonstrates that other countries now struggling to join the West have much to learn from Poland's example. Of interest to scholars across the social sciences, this work provides general as well as professional readers with a compelling account of the realities behind one of the most important events of our time--the collapse of the Eastern Bloc. Originally published in 1994. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Download or read book Stabilization and Privatization in Poland written by K. Poznanski and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stabilization and Privatization: An Economic Evaluation of the Shock Therapy Program is the first comprehensive account of Poland's economic transition since mid-1989. Monetary stabilization, trade liberalization (including convertibility) and privatization of state capital assets are discussed. Sources of economic recession which have accompanied the post-1989 transition are analyzed. The role of demand-side factors (i.e. monetary contraction) is weighed against that of supply-side factors (i.e. credit availability). The prevailing view is that the recession has been supply-type rather than demand-type. Economic performance has been impacted by the lack of a proper institutional framework (e.g. a segmented banking sector, diluted property rights). Arguments in favor of evolutionary reforms and market enhancing measures are presented. Stabilization and Privatization examines the main components of Poland's shock therapy program implemented in 1990. Post-shock recession, lasting at least through 1992, is examined to establish whether a sharp decline in output was caused by excessive demand contraction or lack of accommodating credit policies. The merits of an evolutionary approach and a more proactive state are debated.
Download or read book Stabilization and Structural Adjustment in Poland written by Henryk Kierzkowski and published by Routledge. This book was released on 2013-04-15 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Solidarity-led government which came into power in Poland in Autumn 1989 faced two enormous tasks. First, to stabilize an economy prone to hyperflation. Second, to replace a crumbling command system in favour of a market mechanism, in a country whose market institutions had been destroyed under forty years of communist rule. This book recounts the events of this period and the course taken by the new government, and analyzes the significance of this for the transition process in Poland and elsewhere.
Download or read book Moderate Inflation in Poland written by Mr.Mark E. L. Griffiths and published by International Monetary Fund. This book was released on 1996-06-01 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why is moving from moderate to low inflation almost always slow or costly? This paper answers this question, based on the Polish experience. First, reflecting the transition to a market economy, Polish inflation has been marked by significant changes in relative prices. Second, as wage and price indexation takes root, the inflationary effect of shocks to relative prices is magnified. Third, lagging structural reform, including the failure to extend hard budget constraints to all sectors of the economy, makes monetary policy less effective. Reduced money supply growth with structural reform offers the best prospect for moving to low inflation.
Download or read book Reform Stabilization Policies and Economic Adjustment in Poland written by Grzegorz W. Kołodko and published by . This book was released on 1989 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Stabilization Policy in Poland written by Grzegorz W. Kołodko and published by . This book was released on 1990 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation Stabilization and Economic Transfornmation in Poland written by International Monetary Fund and published by . This book was released on 1991 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Poland s Protracted Transition written by Kazimierz Poznański and published by Cambridge University Press. This book was released on 1996 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, first published in 1997, offers an integrated study of institutional change in the Polish economy since 1971.
Download or read book Poland written by Ms.Inci Ötker and published by International Monetary Fund. This book was released on 1994-09-15 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: Poland's economy rebounded dramatically in 1992-93, several years after the nation embarded on a comprehensive program of economic transformation. This paper describes Polan's steps in the areas of public finance, monetary policy and financial sector reform, trade and exchange rate policy, and microeconomic liberalization, as well as the social impact of transition.
Download or read book The Second Stage of Polish Economic Transformation written by Tadeusz Baczko and published by . This book was released on 1996 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Global Long term Economic Growth and the Economic Transformation of Poland and Eastern Europe written by Stanisław Gomułka and published by Wydawnictwo Naukowe Scholar. This book was released on with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the characteristic facts concerning the “catching-up countries” is the exceptionally large variation in their per capita annual rate of growth, from about zero to about 10%. The papers published in this monograph show that this rate is strongly dependent on the rate of investment, the quality of the labour force and the quality of institutions. The rate of investment is, in turn, dependent on the rate of domestic savings. In Poland, domestic savings are shown to have been and continue to be very low by international standards. The trend rate of growth of about 3.7% has been about 2 pp. higher than that of the most developed economies, mainly thanks to the development of modern market institutions and a new private sector, and partly thanks to foreign direct investments and a significant inflow of finance from the European Union (EU). The data also show that by far the least successful transformation in Eastern Europe has taken place in Ukraine. (Author’s Introduction) *** Our discussion is limited to the Technology Frontier Area (TFA) of the world. The central question is how the area’s innovation rate changes over time in the course of centuries. The analysis indicates that the pattern of change of the innovation rate over time may be eventually hat-shaped. This Hate-Shape Relationship is an empirical law that is given a theoretical interpretation. It is in part a prediction based on the author’s model of innovation and growth. Its acceleration and steady growth segments correspond well to the past reality. Its slowdown part is the central thesis of the book.
Download or read book Poland s Jump to the Market Economy written by Jeffrey Sachs and published by MIT Press. This book was released on 1994-08-22 with total page 127 pages. Available in PDF, EPUB and Kindle. Book excerpt: an insider's analysis of the political events and economic strategy behind the country's swift transition to capitalism and democracy In Poland's jump to the Market Economy, Jeffrey Sachs provides an insider's analysis of the political events and economic strategy behind the country's swift transition to capitalism and democracy. The greatest challenges to economic reform, Sachs points out, have been primarily political in nature, rather than social or even economic. Sachs reviews Poland's striking progress since the start of the economic reforms three years ago, which he helped to design. He discusses the gains - more than half of employment and GDP is now in the private sector, exports to Western Europe have more than doubled, and economic growth and confidence are returning - as well as the serious problems that remain - high unemployment, a chronic fiscal deficit, the slow pace of privatization of large industrial enterprises, and the fragility of multiparty coalition governments.Sachs points out that leadership is crucial to economic reform in a newly democratic setting, as is the West's timely economic assistance. In Poland's case, the Zloty Stabilization Fund and the two-stage debt cancellation have been essential to keeping the reform program on track. Poland's example has had a powerful impact on reforms throughout the region, including the former Soviet Union, and has done much to dispel the fear that the citizens themselves, allegedly made lazy by decades of socialism, would reject the competitive rigors of a market economy. Overall, Sachs remains firmly convinced of the potential for successful economic reforms in Poland and the rest of the region.
Download or read book The Transition in Eastern Europe Volume 1 written by Olivier Jean Blanchard and published by University of Chicago Press. This book was released on 2008-04-15 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: When communism fell in 1989, the question for most Eastern European countries was not whether to go to a market economy, but how to get there. Several years later, the difficult process of privatization and restructuring continues to concern the countries of the region. The Transition in Eastern Europe, Volumes 1 and 2 is an analysis of the experiences of various countries making the transition to market economies and examines the most important challenges still in store. Volume 1, Country Studies, gives an in-depth, country-by-country analysis of various reform experiences, including historical backgrounds and discussions of policies and results to date. The countries analyzed are Poland, Czechoslovakia, Hungary, eastern Germany, Slovenia, and Russia. Written by leading economists, some of whom helped shape local and national reforms, this volume identifies common progress, common difficulties, and tentative solutions to the problems of economic transition. Volume 2, Restructuring, focuses on specific issues of transition, including how to design labor market institutions, privatization, new fiscal structures, and bankruptcy laws; how to reorganize foreign trade; and how to promote foreign direct investment. The articles, written by experts in the field, will be of direct help to those involved in the transition process. These volumes provide a standard reference on economic transition in the region for policymakers in Eastern Europe and in western countries, for international agencies concerned with the transition process, and for anyone interested in learning about the dramatic changes that have recently occurred in Eastern Europe.
Download or read book Crisis Stabilization and Economic Reform written by Michael Bruno and published by Clarendon Press. This book was released on 1993-08-05 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book authoritatively considers the phenomenon of the severe economic crises of the 1970s and 1980s, as exemplified by the combination of high inflation and negative growth in Israel and Latin America. The author analyses the common characteristics of such processes and their possible cures–with a detailed first-hand account of Israeli stabilization policy, and a comparative policy-oriented analysis of Latin American reforms. Professor Bruno also calls on his experience to give a preliminary evaluation of recent stabilizations and reform attempts in several East European economies. The discussion of the theoretical underpinnings of `shock' treatments provides a good example for the blending of a number of disciplines: lessons of economic history; open economy monetary and macro theory; game-theoretic applications to the theory of economic policy design (concepts such as dynamic inconsistency, government reputation, and credibility); and the rationalization of incomes policy. The Clarendon Lectures in Economics were established in 1987. They consist of coherent sets of three or four lectures given by distinguished economists which are accessible to advanced undergraduates and also of interest to academics. Subjects vary from high theory and applications of theory to policy-oriented topics. Lecturers include Professors J.-M. Grandmont, David Kreps, Kenneth Arrow, Angus Deaton, Robert Schiller, and Oliver Hart.
