Market reforms have worked well in central and eastern Europe and the former Soviet Union, argues Professor Leszek Balcerowicz, President of the National Bank of Poland in a new IEA paper. The countries which have performed best are those with the most wholehearted commitment to market reform.
'...more extensive structural reforms produce better growth performance as well as lower inflation, more favourable ecological and health developments, and less growth in earnings inequality' (page 53).
Professor Balcerowicz has been Deputy Prime Minister of Poland, Minister of Finance and President of the Economic Committee of the Council of Ministers. He implemented a major economic reform plan in Poland (the 'Balcerowicz plan) and is one of eastern Europe's leading economic reformers.
The scale of change in the po