Monetary restraint in Poland does not operate in the expected manner under the conditions of predominant state ownership of both banks and industrial enterprises. With effective owners' control being prohibitively costly in the state-owned firms, "nobody's" banks continue their old lending...

Poland and Hungary, the most persistent tinkerers with the Soviet economic system, became also the first communist countries to have allowed debates on the need to rearrange the structure of property rights in the economy as a way to improve its performance. Elsewhere, until the end of the...

Regardless of one's stand on the privatisation issue, there is certainly one point on which all protagonists and antagonists of privatisation agree. This is the political importance of the issue in question. Privatisation part of the transition to the market system is a major political, nor only...

There are important reasons why Japan’s policy regarding imports of technology should find its place in the literature devoted to the economic development of Asia, Africa and Latin America. It is Japan which mastered to a highest degree the ability to subordinate technology imports to...

Based on trends observed during the ’sixties, a number of forecasts have projected an increasing domination by multinational corporations of the Western economies. By confronting them with the available empirical evidence of the ’seventies, Dr. Winiecki reveals some striking discrepancies...

Among the many contraints facing all participants in the international division of labour in the present decade, some seem to affect centrally planned economies (CPEs) to a greater extent than other countries. The CPEs' additional problems are due, according to Prof. Winiecki, to specific,...

Various market-type reforms have been introduced into the economies of Eastern Europe in recent years. These have often been warmly applauded in the West, but their success so far has been at best marginal. Without radical changes in the fundamentals of the Soviet-type economic system such...

Among the former CMEA countries, some are moving faster and more radically toward the market system than others. Prof. Winiecki shows that the former will in future be in a better position to compete on world markets than those countries whose transition to the market system is incomplete or...

The central theme of this paper is the role of the new, entrepreneurial private sector, established after the fall of communism, in output recovery, and, more generally, in economic expansion of post-communist economies.This role is considered specifically in the context of the successes in...