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Price Stability Policies in the Soviet Bloc Countries

In: Wage Control and Inflation in the Soviet Bloc Countries

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  • Jan Adam

Abstract

In this chapter we will briefly survey the development of consumer prices in the countries under review and, above all, the policy followed towards price stability there since the start of economic planning. The period involved is marked by three phases which could not occur simultaneously in all the countries due to the earlier beginning of planning in the USSR. The first phase covers the initial phase of ‘socialist’ industrialisation; the second phase starts with the stabilisation of prices and ends with the abandonment of the price-cutting policy; the third phase lasts up to the present. In the initial phase of ‘socialist’ industrialisation all the countries (except East Germany) suffered from severe inflation. In the Soviet Union this occurred in the 1930s, during the three five-year plans, and continued during and after the Second World War up to 1947, while in the other countries it took place in the period 1949–50 to 1953.

Suggested Citation

  • Jan Adam, 1979. "Price Stability Policies in the Soviet Bloc Countries," Palgrave Macmillan Books, in: Wage Control and Inflation in the Soviet Bloc Countries, chapter 1, pages 3-32, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-04892-2_1
    DOI: 10.1007/978-1-349-04892-2_1
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