"Stabilization and Privatization: An Economic Evaluation of the
Shock Therapy Program" is an 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 favour 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.
General
| Imprint: |
Kluwer Academic Publishers
|
| Country of origin: |
United States |
| Series: |
International Studies in Economics and Econometrics, v. 29 |
| Release date: |
May 1993 |
| First published: |
May 1993 |
| Editors: |
Kazimierz Poznanski
|
| Dimensions: |
230mm (L) |
| Format: |
Hardcover
|
| Pages: |
280 |
| Edition: |
New |
| ISBN-13: |
978-0-7923-9341-2 |
| Categories: |
Books >
Business & Economics >
Economics >
Economic systems >
General
|
| LSN: |
0-7923-9341-4 |
| Barcode: |
9780792393412 |
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