The Polish Alternative. Old Myths, Hard Facts and New Strategies in the Successful Transformation of the Polish Economy

G-W Kolodko and D-M Nuti

Research Paper from World Institute for Development Economics Research

Abstract: In 1994-97 Poland has recorded an outstanding economic performance in terms of GDP growth, simultaneous reduction of inflation and unemployment, fiscal balance, zloty real revaluation, capacity restructuring, private sector growth and institution building. The Polish success needed a market environment but is not and could not be, as it is often claimed, the delayed result of the so-called 'shock therapy' of the early 1990s. This paper shows that initial shocks - e.g. in the foreign trade regime, exchange rate, credit and interest rate policies - were largely unnecessary or excessive.

Keywords: POLAND; MONETARY POLICY; INFLATION; BUSINESS CYCLES; EXCHANGE RATE; TRADE; ECONOMIC GROWTH (search for similar items in EconPapers)
JEL-codes: E31 E32 E52 F13 F31 O40 (search for similar items in EconPapers)
Pages: 56 pages
Date: 1997
References: Add references at CitEc
Citations: View citations in EconPapers (3)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fth:wodeec:33

Access Statistics for this paper

More papers in Research Paper from World Institute for Development Economics Research United Nations University; World Institute for Development Economics Research, Katajanokanlaituri 6B, 00160 Helsinki. Contact information at EDIRC.
Bibliographic data for series maintained by Thomas Krichel ().