Stabilisation orthodoxe ou hétérodoxe dans les économies en transition: les exemples de la Hongrie et de la Pologne

Michel Noguet

Revue d'économie politique, 2001, vol. 111, issue 5, 721-745

Abstract: The difference in economic evolution between Hungary and Poland during the first half of the Nineties can be explained by their choice of different strategies in connection with stabilization policies. This article clearly points out that Polish Authorities, by chosing an heterodox approach not only endeavoured to reduce the level of inflation but also exerted influence over inertial factors, which was not the case of Hungary. The lack of nominal anchorage for salaries and exchange rates combined with the inability of Hungarian Authorities to either maintain or reduce public deficit led to the failure of their stabilization policies and to an increase of the size of the national debt. In 1995, Hungary changed its strategy by experiencing, in turn, a more heterodox approach. Classification JEL : E31, EE63 P52

Keywords: stabilization policy; hyperinflation; economics of transition; Hungary; Poland (search for similar items in EconPapers)
JEL-codes: E31 P52 (search for similar items in EconPapers)
Date: 2001
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