Balcerowicz Plan
E851944
The Balcerowicz Plan was a set of radical economic reforms that transformed Poland from a centrally planned communist economy into a market-oriented system in the early 1990s.
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
economic reform program
ⓘ
shock therapy reform ⓘ transition economy reform package ⓘ |
| alsoKnownAs | Polish economic shock therapy NERFINISHED ⓘ |
| appliedIn | Poland NERFINISHED ⓘ |
| appliesTo | post-socialist transition ⓘ |
| chiefArchitect | Leszek Balcerowicz NERFINISHED ⓘ |
| component |
currency convertibility measures
ⓘ
fiscal austerity ⓘ foreign trade liberalization ⓘ macroeconomic stabilization ⓘ price liberalization ⓘ privatization of state-owned enterprises ⓘ reform of subsidies ⓘ tax reform ⓘ tight monetary policy ⓘ wage controls ⓘ |
| country | Poland ⓘ |
| criticizedFor |
increase in income inequality
ⓘ
rapid deindustrialization in some regions ⓘ social costs of rapid transition ⓘ |
| economicModel | free-market capitalism ⓘ |
| field | economics ⓘ |
| goal |
integrate Poland into global market economy
ⓘ
liberalize prices ⓘ reduce hyperinflation ⓘ stabilize Polish economy ⓘ transform centrally planned economy into market economy ⓘ |
| hasLanguage | Polish ⓘ |
| historicalContext | post-communist transition in Central and Eastern Europe ⓘ |
| implementedBy | Polish government NERFINISHED ⓘ |
| implementedByMinister | Leszek Balcerowicz NERFINISHED ⓘ |
| implementedUnderPrimeMinister | Tadeusz Mazowiecki NERFINISHED ⓘ |
| influencedBy |
International Monetary Fund recommendations
NERFINISHED
ⓘ
Washington Consensus NERFINISHED ⓘ World Bank recommendations ⓘ neoliberal economic theory ⓘ |
| namedAfter | Leszek Balcerowicz NERFINISHED ⓘ |
| region | Central and Eastern Europe NERFINISHED ⓘ |
| result |
closure of many state-owned enterprises
ⓘ
deep initial recession ⓘ emergence of private sector ⓘ integration of Poland into global markets ⓘ rapid disinflation ⓘ sharp initial increase in unemployment ⓘ subsequent economic growth in Poland ⓘ |
| startDate | 1990-01-01 ⓘ |
| supportedBy |
international financial institutions
ⓘ
reformist Polish elites ⓘ |
| timePeriod | early 1990s ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.