Hyperinflation and Stabilization in Postsocialist Economies

Hyperinflation and Stabilization in Postsocialist Economies


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Hyperinflation and Stabilization in Postsocialist Economies by G.W Kolodko, Danuta Gotz-Kozierkiewicz, Elz. Skrzeszewska-Paczek

One would think states and peoples have had so many bad experiences with inflation that politicians at the helm of these states would do everything within their power to avoid inflation and, in particular, its very intensive shape, i. e. hyperinflation. However, this has not been the case. After the big inflations of the twenties and the post-war inflations of the fourties, we still witness intensive, economically, socially and politically extremely painful inflationary processes. And the eighties will be particularly engraved in history as a period in which the inflation has assumed an exceptionally dynamic character with respect to some countries. This regards, in the first place, Latin America, but not exclusively. Not without reason -as will be of particular intensity has also affected shown in this book -inflation countries which, according to the passed economic doctrine, were supposed to be completely immune from this economic illness. Most generally, the inflation can be assumed to be a uniform phenomenon which, in each case, can be described by a single, universal definition, while being divided into a number of forms and types distinguishable according to their original and secondary sources, their mechanisms, the ways of their manifestation as well as to their effects and the methods of counteracting them.

Product Details

ISBN-13: 9789401057349
Publisher: Springer Netherlands
Publication date: 11/12/2012
Series: International Studies in Economics and Econometrics , #26
Edition description: 1992
Pages: 186
Product dimensions: 6.10(w) x 9.25(h) x 0.02(d)

Table of Contents

1 Stabilization programs — assumptions, background, implementation.- 2 Postsocialist economy and stabilization policy.- 3 Stabilization in Yugoslavia.- 4 Polish hyperinflation and stabilization 1989–1991.- 5 Stabilization in Viet Nam.- 6 Stabilization, transformation and growth. Comparative analysis.- Annexe Stabilization in Israel.- 1. Inflationary processes in Israel before 1985.- 2. Assumptions of the stabilization program.- 3. Initial results of the program.- 4. Evaluation of the first stage of the program.- 5. Sources of economic recession.- 6. Causes of the limited scale of inflation suppression.- 7. The costs of stabilization “anchored” on exchange rate.- 8. Attempt at program evaluation.- References.

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