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Hyperinflation in the General Government: German-Occupied Poland During World War II

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  • Steve H. Hanke
  • Nicholas Krus
  • Joanna Gawlik

Abstract

Newly discovered primary data reveals two previously undiscovered episodes of hyperinflation. They occurred in German-occupied Poland from late 1939 to early 1945. Nazi-occupied Poland, a territory then referred to as the General Government, experienced monthly inflation rates of 71.4% in January 1940 and 54.4% in August 1944. Inclusion of the 1940 and 1944 Polish cases of hyperinflation brings the total number of episodes of hyperinflation documented in the Hanke-Krus World Hyperinflation Table to 60. With these newly discovered cases, Poland has experienced more episodes of hyperinflation—four—than any other country in the world.

Suggested Citation

  • Steve H. Hanke & Nicholas Krus & Joanna Gawlik, 2020. "Hyperinflation in the General Government: German-Occupied Poland During World War II," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 21(2), pages 115-134, April.
    • Handle: RePEc:wej:wldecn:789
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    Cited by:

    1. Hartwell, Christopher A & Szybisz, Martin Andres, 2021. "Corralling Expectations: The Role of Institutions in (Hyper)Inflation," MPRA Paper 105612, University Library of Munich, Germany.

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