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Die Geldnachfrage in sozialistischen Planwirtschaften: Polen 1950 – 1984
Credit and Capital Markets – Kredit und Kapital, Vol. 20 (1987), Iss. 3 : pp. 378–401
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Karl-Hans Hartwig, Münster
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Shortages, interest rates and money demand in Poland, 1969‐1993
Nijsse, Erwin
Sterken, Elmer
International Journal of Social Economics, Vol. 23 (1996), Iss. 10/11 P.329
https://doi.org/10.1108/03068299610764289 [Citations: 4]
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Abstract
Money Demand in Socialist Planned Economies: Poland 1950 - 1984
The few analyses hitherto available on the demand for money in Socialist planned economies cover historical periods for the most part. In some cases they also include specifications that conform to the factual requirements of these economic systems to a certain extent only. The present analysis attempts to take account of both aspects. The definition of a general money-demand function for the private sector and its theoretical basis are followed by the empirical specification; for the available statistical data available for Socialist planned economies requires even more interpretation and processing compared with the market economies. The concluding empirical study shows on the basis of the Polish example that modern monetary policy instruments – after the requisite institutional adaptation – allow system-indifferent applications. The results obtained confirm the assumed validity of the model, which – in addition to the known variables – provides for governmental rationing as an influencing factor and suggests a stable money demand function.