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Economic change in Poland

Blanchard, Olivier and Layard, Richard (1990) Economic change in Poland. CEP Discussion Papers, CEPDP0003. Centre for Economic Performance, London School of Economics and Political Science, London, UK.

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Identification Number: CEPDP0003

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
Subjects: H Social Sciences > HC Economic History and Conditions
Sets: Departments > Economics
Research centres and groups > Centre for Economic Performance (CEP)
Series: Working Papers > CEP Discussion Papers
Date Deposited: 28 Feb 2013 10:26
Last Modified: 13 Aug 2013 10:35
URI: http://eprints.lse.ac.uk/id/eprint/48882

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