ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Poland`s Experience with Convertibility

In Poland, after significant external liberalisation from 1995, the resultant huge capital inflows began to impair economic growth. Appreciation of the domestic currency damaged international competitiveness, leading to high trade deficits, while the inflow of "foreign savings" eventually crowded out domestic savings.

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