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The Implications of Rapid Private Sector Growth in Poland

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  • J Rostowski
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    Abstract

    Three phases in the growth of the private sector in Poland since 1985 are identified: until the end of 1989, distorted and slow growth; 1990 rapid service sector development; and from 1991 rapid balanced growth. Poland has achieved massive private sector development with minimal privatisation of state enterprises: the key cause has been macroeconomic stabilisation. Very small availability of credit has not prevented this rapid growth, suggesting the unimportance of credit and financial markets in the early years of transition.

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    Bibliographic Info

    Paper provided by Centre for Economic Performance, LSE in its series CEP Discussion Papers with number dp0159.

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    Date of creation: Jul 1993
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    Handle: RePEc:cep:cepdps:dp0159

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    Web page: http://cep.lse.ac.uk/_new/publications/series.asp?prog=CEP

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    Cited by:
    1. Buch, Claudia M., 1994. "Dealing with bad debt: Lessons from Eastern Europe," Kiel Working Papers 642, Kiel Institute for the World Economy.
    2. Philippe Aghion & Olivier Jean Blanchard, 1994. "On the Speed of Transition Central Europe," NBER Working Papers 4736, National Bureau of Economic Research, Inc.

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