The Economic Policy of the Second Polish Republic: Successes and Failures from 1918 to 1939

Abstract

The economic policy of the Second Polish Republic (1918–1939) achieved notable successes, including Władysław Grabski’s currency reform in 1924, which stabilized the zloty and improved public finances, and the construction of the port in Gdynia, which strengthened Poland’s international trade. However, the global economic crisis of the 1930s exposed structural weaknesses, leading to unemployment and economic instability. In response, the government initiated the Central Industrial District (COP) to boost heavy industry. While some reforms, like the 1925 land reform, were limited in effectiveness, the overall policy had both successes and shortcomings in stabilizing Poland’s economy.