|dc.description.abstract||The strategy of Poland 's economic development in the period
following 1970, which was called a strategy of accelerated socio economic
development, was characterized with a desire to ensure
an active participation for Poland in the international division
of labour, rapid "external opening up" of the economy, and
utilization of extern al factors of growth.
The system of extending hard-currency credits to finance in vestment
projects based on the self-repayment principle i . e .
repayment of obtained credits by selling the effects of commissioned
investment projects became an instrument in accomplishment
of the strategy conceived in this way. As a result, the
self-repayment principle became synonymous with subjecting import
of investment goods from capitalist countries to an obligation of
repaying its costs with exports to the markets of these countries .
The self-repayment principle W3S to accomplish two basic
goals in the Polish economy:
1) create conditions securing implementation of an accelerated
2 ) stimulate growth of profitable export striving in this way
for an equilibrium in the payments balance .
Within the framework of hard-currency credits for investments,
there were financed the following types of projects :
- planned investment projects (economic complexes),
- planned purchases of ships ,
- construction of tourist facilities and hotels ,
- investment projects bringing fast returns .
The main items to be purchased by means of hard -currency credits for these projects ware machines and equipment, know-how,
raw materials , elements turned out on cooperation basis as well
as complete turn-key projects and ships.
The system of hard-currency credits underwent a tremendous
evolution , which is reflected in verification of the elaborated programme of credits for complex projects and liberalization of principles according to which the utilized credits were to be
All in all , the total value of credits extended over the
years 1971-1900 amounted to 13.5 billion foreign exchange zlotys with 13.2 billion foreign exchange zlotys having been utilized.
The financial obligations to be repaid as a result of these
credits amount to 19.4 billion foreign exchange zlotys . The
biggest share of all credits fell to complex investment projects . The remaining part of obtained credits was used for investment
projects with fast returns (17.5%), tourist facilities
and hotels (9 % ) and ships (8 .5 % ).
The above data reveal that the investment projects put on
stream owing to hard-currency credits held an important place in
the investment policy of Poland in the seventies ; they exerted
a huge Impact on modernization of industrial production but simultaneously,
their influence on the payments balance was, to
a big extent, negative.||pl_PL
|dc.description.sponsorship||Zadanie pt. „Digitalizacja i udostępnienie w Cyfrowym Repozytorium Uniwersytetu Łódzkiego kolekcji czasopism naukowych wydawanych przez Uniwersytet Łódzki” nr 885/P-DUN/2014 zostało dofinansowane ze środków MNiSW w ramach działalności upowszechniającej naukę||pl_PL
|dc.publisher||Wydawnictwo Uniwersytetu Łódzkiego||pl_PL
|dc.relation.ispartofseries||Acta Universitatis Lodziensis. Folia Oeconomica;47||
|dc.title||System kredytowania dewizowego inwestycji na zasadzie samospłaty||pl_PL
|dc.title.alternative||System of Hard-Currency Credits for Investment Projects Based on Self-Repeynent Principles||pl_PL
|dc.contributor.authorAffiliation||Uniwersytet Łódzki, Zakład Ekonomiki Przemysłu||pl_PL