Citation
Discussion Paper Details
Please find the details for DP432 in an easy to copy and paste format below:
Full Details | Bibliographic Reference
Full Details
Title: Economic Change in Poland
Author(s): Olivier J Blanchard and Richard Grenville Layard
Publication Date: June 1990
Keyword(s): Economic Change and Poland
Programme Area(s): International Macroeconomics
Abstract: Poland has tackled its economic problems with courage and, thus far, success. Hyperinflation has ceased, the well-chosen exchange rate has held, and wage behaviour has been responsible.A major recession is under way, and it must not become endemic. A big export effort is needed, followed with discretion by some domestic relaxation. Foreign investment could be encouraged by removing all limits to the repatriation of profit. To prevent unemployment persisting even after demand recovers, unemployment benefits could be replaced after one year by paid temporary employment on public works.Inflation still needs to be reduced further to reach West European levels. One obvious approach is to lengthen the period of indexation used in calculating wage ceilings. Finally, privatization should be accelerated, either by giving the capital stock to the people or by selling it in the form of highly-geared holding companies.
For full details and related downloads, please visit: https://cepr.org/active/publications/discussion_papers/dp.php?dpno=432
Bibliographic Reference
Blanchard, O and Layard, R. 1990. 'Economic Change in Poland'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=432