Socialist banking and monetary control: the experience of Poland

The subjects of banking, credit and monetary control in socialist economies have so far been largely neglected by Western scholars. This is particularly surprising because the role of banking in these economies has increased considerably since the mid-fifties, and there has also been a remark able surge of interest in the subject in Western economics.
This book deals with the development of financial institutions, changes in methods of finance and the role of monetary control in socialist economic management. The structure and activity of financial institutions are deliberately adapted to changes in policy planning techniques used in socialist economies. Dr Podolski provides a systematic description of this process of adaptation, based mainly on the example of the Polish economy, on which he has gathered a large amount of statistical data.
Throughout the book international comparisons are made. Soviet experience is particularly relevant, but attempts are also made at comparisons with Western economies. The author has pinpointed several similarities and some striking differences between Western and socialist banking, credit and monetary policy. The most important function of socialist banking and credit is to finance and control enterprises in the socialised sector of the economy, and this therefore receives most attention, although a brief review of credit finance in the private sector is also given.