| Stabilization and Privatization in Poland: An Economic Evaluation of the Shock Therapy Program Softcover Repri Edition Contributor(s): Poznanski, K. (Editor) |
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ISBN: 9401049785 ISBN-13: 9789401049788 Publisher: Springer OUR PRICE: $104.49 Product Type: Paperback Published: October 2012 |
| Additional Information |
| BISAC Categories: - Business & Economics | Development - Economic Development - Business & Economics | Economics - General - Political Science | Political Economy |
| Dewey: 338.943 |
| Series: International Studies in Economics and Econometrics |
| Physical Information: 0.6" H x 6.14" W x 9.21" (0.88 lbs) 272 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: 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. |