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Structural and Macroeconomic Determinants of the Output Decline in Poland: 1990-91

Author

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  • Mr. Jonathan David Ostry
  • Mr. Eduardo Borensztein

Abstract

This paper addresses two questions relating to the output decline in Poland since the initiation of market-oriented reforms at the beginning of 1990. First, to what extent is the decline in output a generalized phenomenon, rather than reflecting the short-term effects of resource reallocation in response to the new relative price structure? Second, what have been the main macroeconomic determinants of the output decline? In response to the first question, the paper finds relatively little evidence to favor a “structural change” view of the output decline. As far as the second question is concerned, the paper finds that both supply-side and demand-side factors have played a role, depending on the specific time period being considered.

Suggested Citation

  • Mr. Jonathan David Ostry & Mr. Eduardo Borensztein, 1992. "Structural and Macroeconomic Determinants of the Output Decline in Poland: 1990-91," IMF Working Papers 1992/086, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1992/086
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    Citations

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    Cited by:

    1. Malinka Koparanova, 2007. "Structural Changes in the Manufacturing Industry of Transition Economies," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 3-42.
    2. Gabrisch, Hubert & Buscher, Herbert S., 2005. "The unemployment-growth relationship in transition countries," IWH Discussion Papers 5/2005, Halle Institute for Economic Research (IWH).
    3. Eirik Svindland, 1993. "Geld- und Fiskalpolitik im Transformationsprozess," Discussion Papers of DIW Berlin 74, DIW Berlin, German Institute for Economic Research.
    4. Diehl, Markus, 1994. "Real adjustment in the economic transformation process: The industrial sector of Vietnam 1986-1992," Kiel Working Papers 597, Kiel Institute for the World Economy (IfW Kiel).
    5. Falk, Martin & Raiser, Martin & Brauer, Holger, 1996. "Making sense of the J-curve: Capital utilisation, output, and total factor productivity in Polish industry 1990-1993," Kiel Working Papers 723, Kiel Institute for the World Economy (IfW Kiel).
    6. Jacek Rostowski, 1995. "Investment in Post-communist Economies. Real Facts and Keynesian Myths," CASE Network Studies and Analyses 0063, CASE-Center for Social and Economic Research.
    7. Roberts, Barbara M. & Zolkiewski, Zbigniew, 1996. "Modelling income distribution in countries in transition: A computable general equilibrium analysis for Poland," Economic Modelling, Elsevier, vol. 13(1), pages 67-90, January.

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