This book presents a model which simulates the effects of financial reforms in transitional economies, which is then applied to Poland for a variety of policy simulations. The authors develop models for households, commerical banks and firms, expanding their enquiry into the government sector, the central banking sector, the external sector and finally the supply side. These sub-sector models explicitly incorporate institutional features specific to the Polish economy. The estimated model is used to simulate the effects of a wide array of financial policies introduced in Poland, and these results are then used to assess the effectiveness of the policies analyzed. This timely and authoritative study sheds new light on how a country's overall economic system responds when it pursues a 'big-bang' approach to marketization.

The author discusses the traditional system of management of the economy as it existed in the early 1950s in the USSR and goes on to deal with the reforms of the 1960s and of the 1980s, country by country. He shows that the focus of the reforms is on finding a proper combination of planning and the market mechanism, and their success will be judged

This book contains 3 major sections: 1: Monetary and Exchange Rate Policies in Poland and the ex-CSFR; 2: The Banking Sector and Enterprise Restructuring, including Privatisation and Hardening of Budget Constraints and the Micro Level; and 3: Bank Regulatory and Supervisory Issues.

The author discusses the traditional system of management of the economy as it existed in the early 1950s in the USSR and goes on to deal with the reforms of the 1960s and of the 1980s, country by country. He shows that the focus of the reforms is on finding a proper combination of planning and the market mechanism, and their success will be judged by their ability to solve acute economic problems.

Of all the Eastern European post-communist states, Poland has followed the most radical approach to transforming its centralized economy into a market economy. The 'big bang' approach it adopted has never before been attempted on such a large scale and was a dramatic departure from the more gradualist processes favoured by countries such as Hungary and the Czech Republic. In this study, Gupta and Lensink present a model which simulates the effects of financial reforms in transitional economies, which they then apply to Poland for a variety of policy simulations. In a sequential manner, the aut.

This book presents a model which simulates the effects of financial reforms in transitional economies, which is then applied to Poland for a variety of policy simulations. The authors develop models for households, commercial banks and firms, expanding their enquiry into the government sector, the central banking sector, the external sector and finally the supply side. These sub-sector models explicitly incorporate institutional features specific to the Polish economy. The estimated model is used to simulate the effects of a wide array of financial policies introduced in Poland, and these resu.

Money and Plan concerns the changing role of money and finance in the East European countries as they enact economic reforms designed to decentralize economic decisions, extend enterprise autonomy, and rationalize the management of their economies. The book is the first in the Western world to address itself directly to this theme. In the Stalinist economic system, which all European communist countries shared until the mid-sixties and which most still do, money lays a subordinate role. In the production sector its use in planning and by state-owned enterprises has been restricted and circumscribed in many ways. Objectives and performance standards are defined in physical terms (i.e., in physical units of inputs and output). Planning also is executed in physical units. Although banking and other financial institutions exist, they mainly supervise enterprises rather than redistribute national resources or appraise commercial prospects. As for foreign trade, it has been conducted largely on a barter basis. Nevertheless, insofar as money has been used, it has posed a number of important problems. One of these has been chronic inflationary pressure. In the present volume two contributors investigate the historical record and the cause of inflation in Poland, and develop theoretical models to explain the phenomenon. Inflation is only one national economic problem raised by current forms requiring new monetary and financial policies. Decentralization also raises important questions of full employment, balance of payments management, sectoral and regional relations, and incomes policy--matters that will have to be handled increasingly by monetary and financial means, often quite similar to those developed and practices in the West. Moreover, as individual enterprises gain more autonomy in their current operations and investment, and as physical planning and control are curtailed, redit policies, instruments, and institutions will have to be devised to guide micro-economic activity in consonance with national plans. The East European contries that are carrying economic reform much further than the rest are Czechoslovakia and Hungary, which intend to introduce a functioning market mechanism together with considerable enterprise autonomy in the production (state-owned) sector. Three contributors consider the case specially. Another contributor discusses the majore attempt thus far by the East European countries to abandon bilateral, barter-like trade among themselvs in favor of a financial framework for multilateral clearing and a new monetary unit, the "transferable ruble." The editor's Introduction and a concluding chapter by a final contributor view the changing role of money and finance in comprehensive terms. This title is part of UC Press's Voices Revived program, which commemorates University of California Press's mission to seek out and cultivate the brightest minds and give them voice, reach, and impact. Drawing on a backlist dating to 1893, Voices Revived makes high-quality, peer-reviewed scholarship accessible once again using print-on-demand technology. This title was originally published in 1968.