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Stabilization and Privatization in Poland

An Economic Evaluation of the Shock Therapy Program

  • Book
  • © 1993

Overview

Editors:
  1. Kazimierz Z. Poznanski

    1. The Henry M. Jackson School of International Studies, University of Washington, USA

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Part of the book series: International Studies in Economics and Econometrics (ISEE, volume 29)

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Table of contents (13 chapters)

  1. Front Matter

    Pages i-vii
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  2. Introduction

    1. Introduction

      • Kazimierz Z. Poznanski
      Pages 1-11

  3. Stabilization Program and Economic Recession

    1. Front Matter

      Pages 13-13
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    2. Poland’s Transition to Capitalism: Shock and Therapy

      • Kazimierz Z. Poznanski
      Pages 15-42

    3. Poland’s Quest for Economic Stabilization, 1988–1991: Interaction of Political Economy and Economics

      • Branko Milanovic
      Pages 43-62

    4. Taking Stock of the “Big Bang”

      • Keith Crane
      Pages 63-83

  4. Foreign Trade Sector: Reform and Policies

    1. Front Matter

      Pages 85-85
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    2. The CMEA Demise, Trade Restructuring, and Trade Destruction in Eastern Europe: Initial Assessment

      • Dariusz K. Rosati
      Pages 87-104

    3. The New East and Old Trade and Payment Problems

      • Jozef M. van Brabant
      Pages 105-123

    4. Liberalizing Foreign Trade in a Socialist Economy: The Problem of Negative Value Added

      • Ronald I. McKinnon
      Pages 125-147

  5. Privatization of State Capital Assets

    1. Front Matter

      Pages 149-149
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    2. East European Transformation: The Supply Side

      • Wojciech W. Charemza
      Pages 151-171

    3. Inflation Tax, Household Wealth, and Privatization in Poland

      • Przemyslaw T. Gajdeczka
      Pages 173-195

    4. The Economic Transformation of Eastern Europe: The Case of Poland

      • Jeffrey Sachs
      Pages 197-212

  6. Alternative Approaches to Economic Transition

    1. Front Matter

      Pages 213-213
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    2. Evolutionary and Radical Approaches to Economic Reform

      • Peter Murrell
      Pages 215-231

    3. Transition to Market in a Comparative Perspective: A Historian’s Point of View

      • Jacek Kochanowicz
      Pages 233-250

    4. Is There a J-Curve for the Economic Transition from Socialism to Capitalism?

      • Josef C. Brada, Arthur E. King
      Pages 251-269

  7. Back Matter

    Pages 271-272
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Keywords

About this book

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.

Editors and Affiliations

  • The Henry M. Jackson School of International Studies, University of Washington, USA

    Kazimierz Z. Poznanski

Bibliographic Information

  • Book Title: Stabilization and Privatization in Poland

  • Book Subtitle: An Economic Evaluation of the Shock Therapy Program

  • Editors: Kazimierz Z. Poznanski

  • Series Title: International Studies in Economics and Econometrics

  • DOI: https://doi.org/10.1007/978-94-011-2206-1

  • Publisher: Springer Dordrecht

  • eBook Packages: Springer Book Archive

  • Copyright Information: Springer Science+Business Media New York 1993

  • Hardcover ISBN: 978-0-7923-9341-2Published: 31 May 1993

  • Softcover ISBN: 978-94-010-4978-8Published: 29 October 2012

  • eBook ISBN: 978-94-011-2206-1Published: 06 December 2012

  • Series ISSN: 0924-5170

  • Edition Number: 1

  • Number of Pages: VII, 272

  • Topics: Political Economy/Economic Systems, Economic Growth

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