## Inflation Stabilization and Economic Transformation in Poland: The First Year

_IMF Working Papers, July 1, 1991_

## Source details

**Canonical URL:** [Inflation Stabilization and Economic Transformation in Poland: The First Year](https://www.imf.org/en/publications/wp/issues/2016/12/30/inflation-stabilization-and-economic-transformation-in-poland-the-first-year-949)

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## Bibliographic details
- Authors: Timothy D. Lane
- Published: July 1, 1991
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451849103.001

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### Background and scope
- Reviews the experience of 1990, the first year of Poland’s program of stabilization and reform.
- Describes prior reform efforts and the crisis of the late 1980s.
- Subjects covered: Credit, Exchange rates, Foreign exchange, Inflation, Labor, Money, Prices, Real wages, Wages.

### Elements of the stabilization and reform program
- Fiscal adjustment.
- Wage controls.
- The possibility of an initial liquidity overhang.
- The exchange rate anchor.
- Structural reforms.

### Assessment and analysis
- The paper assesses the initial results of the 1990 program.
- Alternative explanations of the decline in output are considered.

### Keywords and thematic focus
- balance of payments, Credit, Eastern Europe, exchange rate, Exchange rates, foreign currency, free market, Inflation, loss-making enterprise, market economy, price level, Real wages, retail price index, socialist economy, Wages, WP.

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/30/inflation-stabilization-and-economic-transformation-in-poland-the-first-year-949_