An econometric model of the polish economy in the transition period
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This paper discusses changes which took place in the Polish economy from 1990 to 1995. The analysis is provided by statistical and econometric methods, applying the mini-model of the national economy. The econometric model was originally estimated on the basis of monthly data covering January 1990 to December 1991. To verify the hypothesis that essential changes took place in the Polish economy during its transformation toward the market economy, the minimodel was re-estimated for the sample from January 1993 to June 1995. The parameter estimates evaluated for both periods are presented and discussed here, as well as new versions of these stochastic equations which did not have satisfactory statistical characteristics for the 1993–95 sample.
KeywordsEconomic Growth Parameter Estimate International Economic Statistical Characteristic Market Economy
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