This paper suggests that, in the first year of the reform, achieving price stability was secondary to three other aims: a substantial increase of international reserves (large up-front devaluation required), a drastic reduction of the share of dollar currency in the total money supply (large...

The types of technical progress referred to in the theory of economic growth are passed in review and their relations studied in detail. Light is also shed on the dependence of the long-run rate of growth, in the presence of a constant rate of saving, on the type of technical progress taking...

This paper contains the text of a guest lecture delivered by Dr Gomulka to the Nordic Finance Committee at its meeting in Lillehammer, Norway on 21 January 1994. The paper looks at empirical evidence, both economic and political, from the whole area of Central and Eastern Europe and the Former...