DYNAMIKA TRANSFORMACYJNEJ RECESJI I EKSPANSJI (Z PERSPEKTYWY ZMIAN STRUKTURY WŁASNOŚCIOWEJ FIRM)
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Date
2009
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Wydział Prawa i Administracji UAM
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THE DYNAMICS OF RECESSION AND EXPANSION IN POST-COMMUNIST TRANSITION (FROM THE POINT OF VIEW OF CHANGES IN BUSINESS OWNERSHIP)
Abstract
The paper is an attempt to explain the dynamics of output change in transition and its
determinants. The author stresses, first o f all, the differences between the normal business cycle and
the transitional recession and expansion. The most important are the much larger scale of output fall
in post-communist transition and the different sets of firms (dominant set of new private firms in
transition).
In his opinion the factor dynamising the behaviour of economic agents is the ownership form. In
transitional recession state firms dominate. For a number of reasons at the beginning of the transition
the demand for their (usually obsolete and low quality) products goes down. Also, the aggregate
output falls as new private firms are too small to countervail the fall in the state sector. The few
privatised firms have problems of their own and their output does not increase much, either.
With the passage of time the proportions change. Newly established and already expanding
private firms, as well as more numerous privatised firms, increase their output so much that their
increases outweigh the losses of state firms. The expansion begins.
The author points out that all transition economies have gone through such correctional
recession, while not all experienced expansion. He ascribes the difference to the development of the
new private sector, which in the first couple of years of transition is clearly more efficient than the
privatised sector (to say nothing about the inefficient state sector). The rapid expansion of the new
private sector, or its quantitative and qualitative weakness, is dependent in this author’s opinion on
the successful implementation of the transition programme and on civilisational differences (how the
country performed before communism).
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Ruch Prawniczy, Ekonomiczny i Socjologiczny 71, 2009, z. 2, s. 213-231