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Inflation Stabilization and Economic Transformation in Poland: The First Year

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  • Mr. Timothy D. Lane

Abstract

This paper reviews the experience of 1990, the first year of Poland’s program of stabilization and reform. The background is described, including previous reform efforts and the crisis of the late 1980s. Then the various elements of the program are discussed, including fiscal adjustment, wage controls, the possibility of an initial liquidity overhang, the exchange rate anchor, and structural reforms. The initial results of the program are assessed, and alternative explanations of the decline in output are considered.

Suggested Citation

  • Mr. Timothy D. Lane, 1991. "Inflation Stabilization and Economic Transformation in Poland: The First Year," IMF Working Papers 1991/070, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1991/070
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    Citations

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    Cited by:

    1. Michael Bruno, 1994. "Stabilization and Reform in Eastern Europe: A Preliminary Evaluation," NBER Chapters, in: The Transition in Eastern Europe, Volume 1, Country Studies, pages 19-50, National Bureau of Economic Research, Inc.
    2. van Wijnbergen, Sweder & Budina, Nina, 2001. "Inflation Stabilization, Fiscal Deficits, and Public Debt Management in Poland," Journal of Comparative Economics, Elsevier, vol. 29(2), pages 293-309, June.
    3. Leong H. Liew, 1994. "Competitive Money Creation In China And In The Soviet Union," Metroeconomica, Wiley Blackwell, vol. 45(1), pages 1-16, February.
    4. Kasper Bartholdy, 1997. "Old and new problems in the estimation of national accounts in transiton economies1," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 5(1), pages 131-146, May.
    5. Daniela Veronica Gabor, 2012. "The Road to Financialization in Central and Eastern Europe: The Early Policies and Politics of Stabilizing Transition," Review of Political Economy, Taylor & Francis Journals, vol. 24(2), pages 227-249, April.

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