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Author: J Rostowski
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This paper discusses the key hypotheses which Joseph Stiglitz proposed, in his wide-ranging critique of the 'Washington Consensus', with regard to transition reforms and economic polices in China and Russia. The primar...Read more...
M Dabrowski, Stanislaw Gomulka and J Rostowski
September 2000
The process of hyperinflationary acceleration in Serbia-Montenegro in 1992-3 is found to lie in a massive Tanzi effect and collapse in real money balances. The mechanism through which the hyperinflation caused widespread...Read more...
J Rostowski
November 1994
Three phases in the growth of the private sector in Poland since 1985 are identified: until the end of 1989, distorted and slow growth; 1990 rapid service sector development; and from 1991 rapid balanced growth. Poland h...Read more...
July 1993
The reasons for the growth of inter-enterprise debt analyzed. It is suggested that it results mainly from the appearance of normal trade credit in a liberalized economy, and when a monetary squeeze is part of a non-credi...Read more...
April 1993
The primary function of banks during economic transformation is seen to be provision of an efficient payment mechanism. The lack of banking skills, particularly in credit allocation, is seen as the major problem in achie...Read more...
Latvia is considering adopting a convertible currency which would be highly backed and which would be administered by a currency board. The problem is that with a tiny proportion of national income generated by trade wit...Read more...
June 1992
The introduction of a secondary currency, the chevronets, played an important and beneficial role during hyperinflation in Soviet Russia in the early 1920s. This sophisticated strategy was crowned by the execution of a s...Read more...
J Rostowski and J Shapiro
January 1992