Transformacja gospodarki polskiej po pięciu latach - 1989 - 1994
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Date
1994
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Wydział Prawa i Administracji UAM
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Polish economy five years after the change
Abstract
The subject of the paper is a qualitative analysis and an attempt to evaluate the level
of transformation of the Polish economy five years after the government stabilisation programme'
was implemented at the end of 1989. The programme was also known as Leszek Balcerowicz's
programme, who was deputy Prime Minister at the time. The essential question to be answered
now is: to what extent have the basic pi-inciples of market economy (stable, convertible currency,
market mechanisms as the main form of the functioning of the economy, and privatisation of the
economy being the condition of a microeconomic rationality) have been implemented. The fact is
that the private sector has gained a dominant position and therefore it can be said that the threshold
towards market economy has been passed. And yet, the overall level of transformations is not
satisfactory. A strong 'non-market' sector related to the state industiy, closed to market economy
principles and demanding central planning is still there. It is also feared that this 'duality of systems'
in which the state assumes the role of 'director' of an economic system based on two sets
of principles, which obviously has a negative influence on the efficiency of any economic activity,
will get even better established. High inflation and consequently expensive credit facilities discourage
from investing; public finances deteriorate, public debt is increasing. The State has limited
possibilities of action. What is more, there is a strong opposition to the privatisation of large state
owned enterprises which continue to be centrally financed, regardless of their performance and
results. All this clearly shows that the conditions of a successful completion of the transformation
process in Poland are as follows: 1) the duality of systems has to be overcome, and the State must
assume a role of a sovereign; 2) inflation must be combatted more efficiently and budgetaiy spending
must be further reduced; 3) privatisation must be accelerated, and microeconomic rationality
must be consistently implemented in the State sector. These are the necessary conditions for
investment expansion and the economy being able to regain its capabilities of producing economic
surplus.
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Citation
Ruch Prawniczy, Ekonomiczny i Socjologiczny, 56, 1994, z. 3, s. 63-76