Poland : Saving for Growth and Prosperous Aging
The recent financial crisis has emphasized the role of national saving for rising economic growth and promoting development. Since the crisis began, global markets have experienced deteriorating public finances, household deleveraging, differing sp...
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| Format: | Country Economic Memorandum |
| Language: | English en_US |
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Washington, DC
2014
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| Online Access: | http://documents.worldbank.org/curated/en/2014/06/20291843/poland-country-economic-memorandum-saving-growth-prosperous-aging http://hdl.handle.net/10986/20441 |
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okr-10986-20441 |
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oai_dc |
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Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO CREDIT ACCOUNTING ADDITIONAL SAVINGS ADEQUATE INCOME AGING COUNTRY ASSET ACCUMULATION AUTOMATIC ENROLLMENT BALANCE OF PAYMENTS BALANCE SHEETS BANK FUNDING BANK LENDING BANKRUPTCY BANKS BOND MARKET BONDS BORROWING CALCULATION CALCULATIONS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GAINS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CAPITAL STOCK CASH FLOW COLLATERAL CONSUMERS CONTRIBUTION CONTRIBUTIONS CORPORATE BEHAVIOR CORPORATE BOND CORPORATE TAX CREDIT RISK CURRENCY CURRENT ACCOUNT CURRENT PRICES DEBT DEBT CRISIS DEFERRED ANNUITIES DEFERRED ANNUITY DEFINED CONTRIBUTION PENSION DEMOGRAPHIC DEPOSIT DEPOSITS DEREGULATION DEVELOPING COUNTRIES DIRECT INVESTMENT DISABILITY DISPOSABLE INCOME DIVERSIFICATION DIVIDENDS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC CONSUMPTION EARNINGS ECONOMIC ACTIVITIES ECONOMIC LIBERALIZATION ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE EMERGING MARKETS EMPLOYER CONTRIBUTION EMPLOYER CONTRIBUTIONS EXCHANGE RATE EXPORT MARKETS EXPOSURE EXTERNAL FINANCING EXTERNAL SHOCKS FERTILITY RATES FINANCES FINANCIAL BEHAVIOR FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGNS FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FINANCIAL POLICY FINANCIAL POSITIONS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL DEFICIT FISCAL POLICY FISCAL SUSTAINABILITY FOREIGN ASSETS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN FINANCING FUND INVESTMENT GLOBAL FINANCIAL MARKETS GROSS DOMESTIC PRODUCT GROWTH RATE GROWTH RATES HEALTH SPENDING HOUSEHOLD INCOME HOUSEHOLD SAVING HOUSEHOLD SAVINGS INCOME LEVEL INCOME LEVELS INCOME TAX INCOMES INDIVIDUAL FIRMS INDIVIDUAL PENSION INDIVIDUAL PENSION ACCOUNTS INDIVIDUAL PENSIONS INDIVIDUAL SAVING INFLATION INTEREST PAYMENTS INTEREST RATES INTERNATIONAL MARKETS INTERNATIONAL TRADE INVESTING INVESTMENT DECISIONS INVESTMENT GUIDELINES INVESTMENT OPPORTUNITIES INVESTMENT PROGRAMS INVESTMENT STRATEGIES JOB TRAINING LABOR FORCE LABOR MARKET LABOR MARKETS LIFE EXPECTANCY LIQUIDITY LIVING STANDARDS LOAN LOCAL CURRENCY LONG-TERM CARE LONG-TERM INVESTMENT LONG-TERM SAVING LOW INTEREST RATES LOWER INTEREST RATES MARKET ECONOMIES MARKET ECONOMY MARKET INFORMATION MINIMUM PENSION MINIMUM PENSIONS MODERN BANKING MONEY MARKETS MORTGAGE MORTGAGES MUNICIPAL BONDS NATIONAL BANK OLDER WORKERS OUTPUT PASSIVE SAVING PENSION FUNDS PENSION REFORM PENSION REFORMS PENSION SAVINGS PENSION SCHEME PENSION SCHEMES PENSION SPENDING PENSION SYSTEM PENSION SYSTEMS PENSIONER PENSIONERS PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION PLANS PRIVATE SAVING PRIVATE SAVINGS PRIVATIZATION PRODUCTIVITY PROSPERITY PUBLIC DEBT PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC PENSION PUBLIC PENSIONS PUBLIC POLICY PUBLIC SAVING PUBLIC SAVINGS PURCHASES RATES OF RETURN REAL ESTATE REGRESSION ANALYSIS REPLACEMENT RATE REPLACEMENT RATES RESEARCH ASSISTANCE RETIRED RETIREMENT RETIREMENT INCOME RETIREMENT INCOMES RETIREMENT PENSION RETIREMENT SAVING RETIREMENT SAVINGS RETURN ON SAVING SALARY SAVER SAVERS SAVING BEHAVIOR SAVINGS INSTRUMENTS SAVINGS RATES SECURITIES SENIOR SKILLED WORKERS SMALLER FIRMS SOCIAL SECURITY SOCIAL SECURITY CONTRIBUTIONS SOVEREIGN DEBT STATE PENSIONS STOCK MARKET TAX RATES TAX SYSTEM TERMINATION TOTAL SAVING TRANSACTION UNEMPLOYMENT VALUABLE WAGE WAGE GROWTH WAGES WITHDRAWAL WORKING AGE WORKING AGE POPULATION WORKING LIFE WORTH YOUNG PEOPLE YOUNGER COHORTS |
| spellingShingle |
ACCESS TO CREDIT ACCOUNTING ADDITIONAL SAVINGS ADEQUATE INCOME AGING COUNTRY ASSET ACCUMULATION AUTOMATIC ENROLLMENT BALANCE OF PAYMENTS BALANCE SHEETS BANK FUNDING BANK LENDING BANKRUPTCY BANKS BOND MARKET BONDS BORROWING CALCULATION CALCULATIONS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GAINS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CAPITAL STOCK CASH FLOW COLLATERAL CONSUMERS CONTRIBUTION CONTRIBUTIONS CORPORATE BEHAVIOR CORPORATE BOND CORPORATE TAX CREDIT RISK CURRENCY CURRENT ACCOUNT CURRENT PRICES DEBT DEBT CRISIS DEFERRED ANNUITIES DEFERRED ANNUITY DEFINED CONTRIBUTION PENSION DEMOGRAPHIC DEPOSIT DEPOSITS DEREGULATION DEVELOPING COUNTRIES DIRECT INVESTMENT DISABILITY DISPOSABLE INCOME DIVERSIFICATION DIVIDENDS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC CONSUMPTION EARNINGS ECONOMIC ACTIVITIES ECONOMIC LIBERALIZATION ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE EMERGING MARKETS EMPLOYER CONTRIBUTION EMPLOYER CONTRIBUTIONS EXCHANGE RATE EXPORT MARKETS EXPOSURE EXTERNAL FINANCING EXTERNAL SHOCKS FERTILITY RATES FINANCES FINANCIAL BEHAVIOR FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGNS FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FINANCIAL POLICY FINANCIAL POSITIONS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL DEFICIT FISCAL POLICY FISCAL SUSTAINABILITY FOREIGN ASSETS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN FINANCING FUND INVESTMENT GLOBAL FINANCIAL MARKETS GROSS DOMESTIC PRODUCT GROWTH RATE GROWTH RATES HEALTH SPENDING HOUSEHOLD INCOME HOUSEHOLD SAVING HOUSEHOLD SAVINGS INCOME LEVEL INCOME LEVELS INCOME TAX INCOMES INDIVIDUAL FIRMS INDIVIDUAL PENSION INDIVIDUAL PENSION ACCOUNTS INDIVIDUAL PENSIONS INDIVIDUAL SAVING INFLATION INTEREST PAYMENTS INTEREST RATES INTERNATIONAL MARKETS INTERNATIONAL TRADE INVESTING INVESTMENT DECISIONS INVESTMENT GUIDELINES INVESTMENT OPPORTUNITIES INVESTMENT PROGRAMS INVESTMENT STRATEGIES JOB TRAINING LABOR FORCE LABOR MARKET LABOR MARKETS LIFE EXPECTANCY LIQUIDITY LIVING STANDARDS LOAN LOCAL CURRENCY LONG-TERM CARE LONG-TERM INVESTMENT LONG-TERM SAVING LOW INTEREST RATES LOWER INTEREST RATES MARKET ECONOMIES MARKET ECONOMY MARKET INFORMATION MINIMUM PENSION MINIMUM PENSIONS MODERN BANKING MONEY MARKETS MORTGAGE MORTGAGES MUNICIPAL BONDS NATIONAL BANK OLDER WORKERS OUTPUT PASSIVE SAVING PENSION FUNDS PENSION REFORM PENSION REFORMS PENSION SAVINGS PENSION SCHEME PENSION SCHEMES PENSION SPENDING PENSION SYSTEM PENSION SYSTEMS PENSIONER PENSIONERS PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION PLANS PRIVATE SAVING PRIVATE SAVINGS PRIVATIZATION PRODUCTIVITY PROSPERITY PUBLIC DEBT PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC PENSION PUBLIC PENSIONS PUBLIC POLICY PUBLIC SAVING PUBLIC SAVINGS PURCHASES RATES OF RETURN REAL ESTATE REGRESSION ANALYSIS REPLACEMENT RATE REPLACEMENT RATES RESEARCH ASSISTANCE RETIRED RETIREMENT RETIREMENT INCOME RETIREMENT INCOMES RETIREMENT PENSION RETIREMENT SAVING RETIREMENT SAVINGS RETURN ON SAVING SALARY SAVER SAVERS SAVING BEHAVIOR SAVINGS INSTRUMENTS SAVINGS RATES SECURITIES SENIOR SKILLED WORKERS SMALLER FIRMS SOCIAL SECURITY SOCIAL SECURITY CONTRIBUTIONS SOVEREIGN DEBT STATE PENSIONS STOCK MARKET TAX RATES TAX SYSTEM TERMINATION TOTAL SAVING TRANSACTION UNEMPLOYMENT VALUABLE WAGE WAGE GROWTH WAGES WITHDRAWAL WORKING AGE WORKING AGE POPULATION WORKING LIFE WORTH YOUNG PEOPLE YOUNGER COHORTS World Bank Poland : Saving for Growth and Prosperous Aging |
| geographic_facet |
Europe and Central Asia Poland |
| description |
The recent financial crisis has
emphasized the role of national saving for rising economic
growth and promoting development. Since the crisis began,
global markets have experienced deteriorating public
finances, household deleveraging, differing speeds of
recovery, and eroding confidence in financial systems, all
of which have deterred long-term investments. In the context
of this new growth agenda, the present report analyzes the
trends and determinants of domestic saving in Poland and
provides policy options for increasing saving, particularly
over the long term. Improved national saving provides
funding for a country to take advantage of more investment
opportunities. From the microeconomic perspective,
increasing national saving will support incomes in an aging
society, helping address the issue of the adequacy of
retirement incomes. However, increasing national saving
involves also some costs, which should be carefully balanced
against the potential benefits. In this context, the report
is divided into seven chapters. Chapter one gives
introduction. Chapter two presents recent trends and
determinants of growth in Poland, as well as challenges for
its long-term prospects. Chapter three discusses the
determinants of and influences on the level of private
saving. Chapter four complements this discussion by
portraying the government's role in determining the
level of saving in the economy. Chapter five discusses the
importance of saving for the financial sector, its ability
to promote saving, and instruments that may be promoted to
meet the needs of Polish savers. Chapter six quantifies the
impact of potential changes to the main determinants of
saving on performance of saving and economic growth in
Poland. Finally, chapter seven focuses on policy analysis. |
| format |
Economic & Sector Work :: Country Economic Memorandum |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Poland : Saving for Growth and Prosperous Aging |
| title_short |
Poland : Saving for Growth and Prosperous Aging |
| title_full |
Poland : Saving for Growth and Prosperous Aging |
| title_fullStr |
Poland : Saving for Growth and Prosperous Aging |
| title_full_unstemmed |
Poland : Saving for Growth and Prosperous Aging |
| title_sort |
poland : saving for growth and prosperous aging |
| publisher |
Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/06/20291843/poland-country-economic-memorandum-saving-growth-prosperous-aging http://hdl.handle.net/10986/20441 |
| _version_ |
1764445377430290432 |
| spelling |
okr-10986-204412021-04-23T14:03:55Z Poland : Saving for Growth and Prosperous Aging World Bank ACCESS TO CREDIT ACCOUNTING ADDITIONAL SAVINGS ADEQUATE INCOME AGING COUNTRY ASSET ACCUMULATION AUTOMATIC ENROLLMENT BALANCE OF PAYMENTS BALANCE SHEETS BANK FUNDING BANK LENDING BANKRUPTCY BANKS BOND MARKET BONDS BORROWING CALCULATION CALCULATIONS CAPITAL ACCUMULATION CAPITAL FLOWS CAPITAL GAINS CAPITAL INFLOWS CAPITAL INVESTMENT CAPITAL MARKET CAPITAL MARKETS CAPITAL STOCK CASH FLOW COLLATERAL CONSUMERS CONTRIBUTION CONTRIBUTIONS CORPORATE BEHAVIOR CORPORATE BOND CORPORATE TAX CREDIT RISK CURRENCY CURRENT ACCOUNT CURRENT PRICES DEBT DEBT CRISIS DEFERRED ANNUITIES DEFERRED ANNUITY DEFINED CONTRIBUTION PENSION DEMOGRAPHIC DEPOSIT DEPOSITS DEREGULATION DEVELOPING COUNTRIES DIRECT INVESTMENT DISABILITY DISPOSABLE INCOME DIVERSIFICATION DIVIDENDS DOMESTIC CAPITAL DOMESTIC CAPITAL MARKET DOMESTIC CONSUMPTION EARNINGS ECONOMIC ACTIVITIES ECONOMIC LIBERALIZATION ECONOMIC MANAGEMENT ECONOMIC PERFORMANCE EMERGING MARKETS EMPLOYER CONTRIBUTION EMPLOYER CONTRIBUTIONS EXCHANGE RATE EXPORT MARKETS EXPOSURE EXTERNAL FINANCING EXTERNAL SHOCKS FERTILITY RATES FINANCES FINANCIAL BEHAVIOR FINANCIAL CRISIS FINANCIAL EDUCATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL LITERACY FINANCIAL LITERACY CAMPAIGNS FINANCIAL MARKET FINANCIAL MARKET DEVELOPMENT FINANCIAL MARKETS FINANCIAL POLICY FINANCIAL POSITIONS FINANCIAL SECTOR FINANCIAL SECTOR DEVELOPMENT FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL DEFICIT FISCAL POLICY FISCAL SUSTAINABILITY FOREIGN ASSETS FOREIGN BANKS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RISK FOREIGN FINANCING FUND INVESTMENT GLOBAL FINANCIAL MARKETS GROSS DOMESTIC PRODUCT GROWTH RATE GROWTH RATES HEALTH SPENDING HOUSEHOLD INCOME HOUSEHOLD SAVING HOUSEHOLD SAVINGS INCOME LEVEL INCOME LEVELS INCOME TAX INCOMES INDIVIDUAL FIRMS INDIVIDUAL PENSION INDIVIDUAL PENSION ACCOUNTS INDIVIDUAL PENSIONS INDIVIDUAL SAVING INFLATION INTEREST PAYMENTS INTEREST RATES INTERNATIONAL MARKETS INTERNATIONAL TRADE INVESTING INVESTMENT DECISIONS INVESTMENT GUIDELINES INVESTMENT OPPORTUNITIES INVESTMENT PROGRAMS INVESTMENT STRATEGIES JOB TRAINING LABOR FORCE LABOR MARKET LABOR MARKETS LIFE EXPECTANCY LIQUIDITY LIVING STANDARDS LOAN LOCAL CURRENCY LONG-TERM CARE LONG-TERM INVESTMENT LONG-TERM SAVING LOW INTEREST RATES LOWER INTEREST RATES MARKET ECONOMIES MARKET ECONOMY MARKET INFORMATION MINIMUM PENSION MINIMUM PENSIONS MODERN BANKING MONEY MARKETS MORTGAGE MORTGAGES MUNICIPAL BONDS NATIONAL BANK OLDER WORKERS OUTPUT PASSIVE SAVING PENSION FUNDS PENSION REFORM PENSION REFORMS PENSION SAVINGS PENSION SCHEME PENSION SCHEMES PENSION SPENDING PENSION SYSTEM PENSION SYSTEMS PENSIONER PENSIONERS PRIVATE PENSION PRIVATE PENSION FUNDS PRIVATE PENSION PLANS PRIVATE SAVING PRIVATE SAVINGS PRIVATIZATION PRODUCTIVITY PROSPERITY PUBLIC DEBT PUBLIC FINANCES PUBLIC INVESTMENT PUBLIC PENSION PUBLIC PENSIONS PUBLIC POLICY PUBLIC SAVING PUBLIC SAVINGS PURCHASES RATES OF RETURN REAL ESTATE REGRESSION ANALYSIS REPLACEMENT RATE REPLACEMENT RATES RESEARCH ASSISTANCE RETIRED RETIREMENT RETIREMENT INCOME RETIREMENT INCOMES RETIREMENT PENSION RETIREMENT SAVING RETIREMENT SAVINGS RETURN ON SAVING SALARY SAVER SAVERS SAVING BEHAVIOR SAVINGS INSTRUMENTS SAVINGS RATES SECURITIES SENIOR SKILLED WORKERS SMALLER FIRMS SOCIAL SECURITY SOCIAL SECURITY CONTRIBUTIONS SOVEREIGN DEBT STATE PENSIONS STOCK MARKET TAX RATES TAX SYSTEM TERMINATION TOTAL SAVING TRANSACTION UNEMPLOYMENT VALUABLE WAGE WAGE GROWTH WAGES WITHDRAWAL WORKING AGE WORKING AGE POPULATION WORKING LIFE WORTH YOUNG PEOPLE YOUNGER COHORTS The recent financial crisis has emphasized the role of national saving for rising economic growth and promoting development. Since the crisis began, global markets have experienced deteriorating public finances, household deleveraging, differing speeds of recovery, and eroding confidence in financial systems, all of which have deterred long-term investments. In the context of this new growth agenda, the present report analyzes the trends and determinants of domestic saving in Poland and provides policy options for increasing saving, particularly over the long term. Improved national saving provides funding for a country to take advantage of more investment opportunities. From the microeconomic perspective, increasing national saving will support incomes in an aging society, helping address the issue of the adequacy of retirement incomes. However, increasing national saving involves also some costs, which should be carefully balanced against the potential benefits. In this context, the report is divided into seven chapters. Chapter one gives introduction. Chapter two presents recent trends and determinants of growth in Poland, as well as challenges for its long-term prospects. Chapter three discusses the determinants of and influences on the level of private saving. Chapter four complements this discussion by portraying the government's role in determining the level of saving in the economy. Chapter five discusses the importance of saving for the financial sector, its ability to promote saving, and instruments that may be promoted to meet the needs of Polish savers. Chapter six quantifies the impact of potential changes to the main determinants of saving on performance of saving and economic growth in Poland. Finally, chapter seven focuses on policy analysis. 2014-10-16T16:27:12Z 2014-10-16T16:27:12Z 2014-06 http://documents.worldbank.org/curated/en/2014/06/20291843/poland-country-economic-memorandum-saving-growth-prosperous-aging http://hdl.handle.net/10986/20441 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ Washington, DC Economic & Sector Work :: Country Economic Memorandum Economic & Sector Work Europe and Central Asia Poland |