Blanchard, Olivier and Layard, Richard 
ORCID: 0000-0002-1313-699X
(1990)
Economic change in Poland.
CEP Discussion Papers (CEPDP0003).
London School of Economics and Political Science. Centre for Economic Performance, London, UK.
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 further reduced to reach West European levels. One obvious approach is to lengthen the period of indexation used in calculation wage ceilings. And, finally, privatisation should be accelerated, either by giving the capital stock to the people or by selling it in the form of highly-geared holding companies.
| Item Type: | Monograph (Report) |
|---|---|
| Official URL: | http://cep.lse.ac.uk |
| Additional Information: | © 2009 The Authors |
| Divisions: | Economics Centre for Economic Performance |
| Subjects: | H Social Sciences > HC Economic History and Conditions |
| Date Deposited: | 28 Feb 2013 10:26 |
| Last Modified: | 12 Dec 2024 05:36 |
| URI: | http://eprints.lse.ac.uk/id/eprint/48882 |
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