Stabilization and Structural Adjustment in PolandHenryk Kierzkowski, Marek Okólski, Stanislaw Wellisz 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. |
Contents
THE POLISH ECONOMY 19891991 29 | 29 |
BANKING CREDIT AND MONETARY POLICY | 67 |
TAX REFORM | 92 |
THE OPENING UP OF THE POLISH ECONOMY | 112 |
THE LABOUR MARKET | 131 |
SOME | 153 |
TRANSFORMING POLANDS INDUSTRY | 188 |
POLISH AGRICULTURE DURING THE TRANSITION | 206 |
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agricultural assets average Balcerowicz Plan Bank of Poland benefits bill billion zlotys budget capital cent Central Statistical Office changes communist competition consumer convertible currency cost decline deficit demand dollars domestic Dziennik Ustaw EE countries elections employees employment environmental exchange rate exemption exports farmers firms fiscal foreign exchange foreign trade funds important income tax industry inflation institutions interest rate investment January labour market Lech Walesa Leszek Balcerowicz limited macroeconomic market economy ment million Minister Ministry monetary policy months National Bank nomenklatura nominal Office and National output ownership Party payments pension period Polish economy political popiwek problem profit PZPR real wages reduced restructuring result roubles sector Sejm social insurance social security SOEs Solidarity Source Soviet state-owned enterprises structure subsidies Tadeusz Mazowiecki transferable roubles transformation transition turnover tax Union Warsaw Warsaw University workers World Bank