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Macro and Micro Features of Successful Economic Convergence : The Case of Poland / Marc Schiffbauer.
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Schiffbauer, Marc.
- Series:
- Other Papers.
- World Bank e-Library.
- Other papers
- Language:
- English
- Subjects (All):
- Economic Development.
- Economic Growth.
- Economic Theory and Research.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Productivity.
- Total Factor Productivity.
- Local Subjects:
- Economic Development.
- Economic Growth.
- Economic Theory and Research.
- Macroeconomic Management.
- Macroeconomics and Economic Growth.
- Productivity.
- Total Factor Productivity.
- Other Title:
- Macro and Micro Features of Successful Economic Convergence
- Place of Publication:
- Washington, D.C. : The World Bank, 2019.
- System Details:
- data file
- Summary:
- This paper examines the patterns of growth of Poland, and its transition into high-income status over the past two decades from a macro and micro perspective. It benchmarks Polish performance with that observed in established high-income countries, and with that of others that have been trapped in middle--income levels and examines the role that integration into the EU had on growth. The analysis reveals, first, that Poland's growth process has been accompanied by a process of diversification of assets, including institutions, physical and human capital. Second, that the progressive integration into the EU bloc boosted growth and productivity because of three keyfactors: (i) increased openness to trade, investment and talent, (ii) increased domestic competition, and regulatory harmonization with EU, (iii) increased certainty in reforms, through a commitment to EU-institutions. Third, that for full convergence to high-income levels, Polish firms need to increase their innovative capacities. The paper extracts lessons applicable to other economies trapped in middle-income levels, as well as to Poland itself to consolidate growth looking forward.
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